Turkey's benchmark stock index hit an all-time high, climbing to 112,073.51 points during the morning session yesterday.

The Borsa Istanbul's BIST 100 index started day up 0.34 percent to open at 110,512.91. On Tuesday, the index closed at 110,142.60 points with a trade volume of TL 7.2 billion ($1.89 billion).

Last week, between Oct. 20 and Oct. 27, the BIST 100 recorded a 0.55 percent weekly fall while its monthly performance was 7.03 percent rise in October.

Since the beginning of this year, the BIST 100 has risen 41.65 percent, up from a close of 77,754.46 points on Jan. 2 - the first trading day of 2017.

The banking index led the surge in the stock exchange. After Prime Minister Binali Yıldırım announced that the Credit Guarantee Fund would continue its support for the real economy, purchases in banking shares increased over 4 percent with the expectation that low-risk loans provided by the fund will positively affect the asset quality and profits of the banks. The banking index rose by 3.31 percent to 176,910 points.

The most-traded stocks on the BIST Karsan Otomotiv, Vestel Elektronik, Turkish Airlines (THY), ASELSAN and Turkcell. The surge in Vestel and Karsan shares were affected by news about the consortium that will produce the domestic car, as Vestel was named among the nominees ,while ASELSAN's latest report on nine-month sales said they increased 60 percent.