The appeals from Istanbul's stock exchange market for foreign investors appear to have been answered as net stock purchases in March totaled $1.08 billion, according to data released by Borsa Istanbul.Foreigners bought shares worth of $100 million in January and $322 million in February. Total net purchases realized by foreign investors in the first quarter of 2016 amounted to $1.5 billion, despite terror attacks and bombings in the country within the same period. Moreover within the first three months, the Borsa Istanbul 100 (BIST 100) index gained a value of 16.9 percent in Turkish Lira terms and 21.4 percent in dollar terms. In March, the index increased by 9.8 percent in TL terms and 15.6 percent in dollar terms.
With regards to foreign purchases in March, Garanti Bank's shares were the most preferred with net purchases of $227 million. Garanti Bank was followed by Vakıfbank, Ereğli Demir Çelik, Akbank and Petkim, with respective net share purchases of $81 million, $71 million, $63 million and $62 million.
Foreign investors sold the most shares in Gübre Fabrikaları, TAV Havalimanları, Tümosan Motor, ASELSAN and Soda Sanayii, with sales respectively of $20 million, $19 million, $12 million and $8 million.