Foreign investors in the Borsa Istanbul (BIST 100), Turkey's benchmark index, continued to buy stocks in July, with net purchases reaching $1.8 billion this year.
According to data compiled from the Borsa Istabul, foreign investor,s who have continuously made net purchases since the beginning of this year, except March, recorded a net purchase of $206 million.
The BIST 100 index registered a 7.06 percent increase in Turkish lira-denominated stocks and 7.12 percent increase in stocks denominated in dollars. The July close of the index, both in TL and dollars, was recorded almost 38 percent higher than at the July 2016 closing rate. During the said period, TL-denominated BIST 100 rose above 109,000 points by breaking consecutive records.
Foreigners mostly bought Halkbank stocks
In July, foreign investors made a net purchase of $55.2 million in Halkbank shares trading on the BIST 100. The highest increase in stock purchases was seen in the shares of Hacı Ömer Sabancı Holding with $24.4 million.
Halkbank was followed by Turkcel,l which saw a net purchases of $51.4 million, and Emlak Konut GYO, with investors buying a net value of $36.5 million in shares. Garanti Bankası and Pegasus Airways came later with a net purchase of $34.3 million and $21.4 million, respectively.
The highest increase after Hacı Ömer Sabancı Holding was in the shares of Tüpraş, Turkey's largest oil refinery, with $23.1 million in net purchases by foreigners, which was followed by Koza Altın and Şişe ve Cam Fabrikaları with $16.2 million and $16 million, respectively.
Turkish stocks hit record levels
Turkey's benchmark stock index saw a historic peak of over 109,700 points during yesterday's afternoon session. It comes amid a more-than-40 percent rise in 2017.
Continuing recent months' upward trend, Borsa Istanbul's BIST 100 index started the week at 109,105.09 points, its highest opening ever. The BIST 100 posted its highest-ever close - 108,545.31 points - last Friday, a 0.78-percent weekly increase.
Since the beginning of 2017 the index has risen nearly 41 percent compared to its close of 77,754.46 points on Jan. 2, the year's first trading day.
The index has advanced 42.7 percent year-on-year, compared with its weekly close at 76,057.68 points on Aug. 5, 2016.
The BIST 100 hovered over 80,000 points just before the last year's July 15 defeated coup attempt, standing at 82,825.36 points at Friday's close on July 15, 2016.
In the week following the coup attempt, Turkey's benchmark stock index went down steeply, decreasing nearly 14 percent to close the week at 71,738.43 points on July 22, 2016.