Borsa Istanbul rises as Bank of America targets Akbank

The Borsa Istanbul BIST 100 index rose by 1.4 percent to 12,443 points on the first trading day of the week starting October 5. The banking sector led the gains with a 2.8 percent increase, while the financial leasing and factoring sector declined by 6.7 percent.

Bank of America (BofA) clients recorded net purchases totaling 545 million TL. The largest purchase by BofA was Akbank (AKBNK), amounting to 772.1 million TL, with the stock closing up 2.7 percent at 68.95 TL. This follows an HSBC report setting a target price of 87 TL for Akbank. Other notable purchases by BofA included Koç Holding, İş Bankası, Yapı Kredi, and Ereğli Demir ve Çelik.

Separately, İş Bankası (ISCTR) stock closed at 12.45 TL on October 2, following a daily range between 12.31 TL and 12.60 TL. The stock's 20-day moving average stands at 13.25 TL, while its 52-day average is 12.83 TL.