The Borsa Istanbul stock exchange has completed 20 out of the last 30 months of Ramadan with a rise, and the remaining 10 of them with a decline.

While the performance of the Borsa Istanbul 100 index (BIST 100) becomes a matter of curiosity during the month of Ramadan, speaking to Dünya daily, Nişantaşı University Banking and Insurance Business Department academic Kutay Gözgör said that Borsa Istanbul completed 20 out of the past 30 Ramadan months - from 1988 to 2016 - with with an increase and the other 10 Ramadans with a fall. Gözgör expressed that some sectors are coming to the fore during the month of Ramadan; namely, the food and retail sector which lead the way.

As far as stock exchange performance during the month of Ramadan since 1988 goes, the trend has displayed a positive outlook by and large. According to Gözgör, although there have been significant increases in returns and, from time to time, it would be more appropriate to explain these rises and falls in accordance with the situation of the respective year. He added, "Generally speaking, however, the BIST 100 index has seen an overall positive performance in the Ramadan month." Reiterating that the index has already soared by nearly 25 percent since the beginning of the year, Gözgör stated that they will follow the stock exchange to monitor whether it will maintain its significant rises during the month of Ramadan, as well.

Food and retail sectors at the forefront

Gözgör further noted that some sectors; especially food and retail, come to the fore in the month of Ramadan, adding that there is mobility in the shares of these sectors starting with the pre-Ramadan period. Also, the shares of the beverage sector manage to come to the fore, as well. "Even though Borsa Istanbul's retrospective performance is positive, it would be useful to assess its performance in Ramadan 2017 in accordance with the existing outlook," he told. According to Gözgör, this outlook includes the state of the BIST 100 index, which has neared the important physiological level of 100,000 points, is entering the month of June which witnesses intense developments on the basis of global markets, including important developments that will determine the performance of the index.