Borsa Istanbul rebounds sharply after seven weeks

The BIST 100 and BIST 30 indices gained more than 5%, while the banking index surged over 7% and the initial public offering (IPO) index climbed more than 6%. The mining index also advanced nearly 9%. The market rebound was supported by the off-exchange sale of BIST 30 shares held by investment funds undergoing liquidation, alongside expectations that tensions involving Iran could ease following the U.S. elections.

The sale of approximately TL 12.7 billion worth of BIST 30 shares held by funds subject to liquidation was completed in 20 equal tranches. Transactions were based on November 3 closing prices, and investors who purchased the shares were prohibited from reselling them on the stock exchange for three months. The completion of these sales eased concerns over additional selling pressure stemming from fund liquidations. Market analysts suggest that a sustained reduction in geopolitical risks could further support the recovery in Turkish equities.