The Turkish benchmark BIST 100 index has surged nearly 16% since the runoff election, surpassing the 5,500 level and hitting the highest level since January, after President Recep Tayyip Erdogan announced his new cabinet following his third term inauguration as Turkey's president on Saturday. The appointment of former Finance Minister and Deputy Prime Minister Mehmet Simsek to the helm of the economy indicated that Erdogan may abandon policies that were referred to as "unorthodox", which helped to restore investors' confidence. Simultaneously, Turkey's annual inflation rate has declined for the seventh consecutive month to 39.6% in May, the lowest level since December 2021, mainly due to the government's move to provide unlimited free natural gas for all households for a year.
Historically, the Turkey Stock Market reached an all time high of 5704.83 in January of 2023. Turkey Stock Market - data, forecasts, historical chart - was last updated on June of 2023.
The Turkey Stock Market is expected to trade at 4806.03 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 3986.61 in 12 months time.