Stock market rises following ceasefire
News of a ceasefire in the Middle East has triggered a rise of over 3 percent on Borsa Istanbul.
Borsa Istanbul had been on a downward trend since March 19, but closed on Friday with a 1.11 percent increase at 9,203.37 points. The BIST 100 index, which was at 10,800 points before that date, had been in a recovery process for the last three months.
Today's ceasefire news caused the BIST 100 index to gain 3.25 percent in value, reaching 9,433 points. This development is being linked to the reduction of geopolitical risks in the Middle East.
As Borsa Istanbul increased its gains under the influence of this positive news, investors returned to buying after the volatile and downward trend that had persisted since March.
The banking index, in particular, drew attention as the sector with the highest gains since June 11, reaching 13,653 points.
News Source: 12punto
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