BIST 100 closes first half as top stock market

DAILY SABAH
ISTANBUL
Published 27.06.2017 23:30
Updated 27.06.2017 23:31

The Borsa Istanbul (BIST 100) has ranked top among the global stock markets by securing nearly 28 percent return for its investors since the first trading day of this year.

Closing the last trading day of 2016 at 76,138 points, the BIST 100 -Turkey's benchmark index - has continued its surging trend until today and crowned the first six months of the year with renewed records. The index started the last three trading days of the first half at 99,639.

While the U.S. stock markets, which saw the highest points, soared by 8-16 percent compared to their 2016 closing points, the average return of European stock markets stand around 7 percent.

The closest competitors of the BIST 100 have been Argentina's stock market with a 25 percent increase, followed by South Korea, India and Hong Kong with a 17 percent upsurge.

Among the prominent global stock markets, Russia has become the worst performer with a 14 percent decrease as the only depreciating stock market.

Analysts expressed that the global risk appetite continued during the first half of the year, the optimism concerning the growth of the Turkish economy and upwardly revised forecasts all boosted the BIST 100.

Noting that the expectation that the U.S. Federal Reserve (Fed) will reduce its balance sheet will predominantly occupy the market agenda, analysts also confirmed that the geopolitical developments will be closely monitored.

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