Profit-Taking Accelerates on Borsa Istanbul After Interest Rate Decision: Which Stocks Shone Today?

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Profit-Taking Accelerates on Borsa Istanbul After Interest Rate Decision: Which Stocks Shone Today?

The BIST 100 continued its upward trend today until the Central Bank of the Republic of Turkey's (TCMB) interest rate decision, after which it moved towards the opening price.

During the morning session, the BIST 100 rose to 10,050 points and then moved sideways in the range of 9,995-10,020 points until the interest rate decision. After the TCMB lowered the policy rate by 250 basis points, which was above most expectations, the index initially spiked to 10,044 points. However, at this point, profit-taking was observed following the realization of expectations. As the last hour approached, the BIST 100, which continued to rise by 0.2% on a daily basis, was trading in the 9,930 points range. The index excluding BIST 100, on the other hand, has given back its intraday gains.

Looking at the sub-sectors, it was observed that the insurance, factoring, and metal sectors predominantly trended downwards. Banks, which registered significant gains of around 6% yesterday, maintained a sideways movement towards the close. The trade, sports, and paper sectors continued to preserve their gains in the vicinity of 1%.

The top five gaining stocks in the BIST 100 by the end of the day were as follows:

  • BJKAS
  • ULKER
  • GESAN
  • AGROT
  • ALFAS

Conversely, the five stocks that fell the most in the BIST 100 today were:

  • AKSA
  • KRDMD
  • EKGYO
  • TKFEN
  • ARDYZ

In Borsa Istanbul today, DMRGD, EGGUB, and PEHOL, which reached ceiling price levels, were the top gainers, while TKFEN, which dropped by around 4%, along with ZEDUR and ODINE, were among the biggest losers.

In the domestic foreign exchange market, after the TCMB decision, the dollar/TL turned downward and began trading below 35.2 in the evening hours. Although the euro/TL made attempts toward 36.8 during the day, it slipped below 36.6 in the last hours. Gram gold, on the other hand, found buyers at 2,971 TL with an increase of 0.25% today.