Borsa İstanbul shows volatility with banking sector gains

Borsa İstanbul's BIST 100 index experienced volatile sessions, seeing both gains and losses. In one session, the index rose by 0.95 percent to close at 14,610.92 points, driven largely by strong performance in the banking sector. Banking stocks, including Akbank and Türkiye İş Bankası, saw significant increases, while the holding sector faced declines. In another session, the index closed slightly lower at 14,575.51 points.

Sectoral performance varied, with construction seeing high gains while technology and information sectors experienced losses. High-volume stocks included Türk Hava Yolları, Akbank, and Tüpraş.

In the currency and commodities markets, the Central Bank of the Republic of Türkiye (TCMB) reported the dollar's effective exchange rate at approximately 48.01 lira for buying and 48.20 lira for selling. Gold prices saw fluctuations, with the ounce trading around 4,594 to 4,597 dollars, while the local kilogram price for standard gold decreased slightly.

Looking ahead to the second quarter earnings season, analysts note that high financing costs and slowing domestic demand are expected to pressure operational profitability for many companies, though exporters with strong pricing power may outperform.