BIST 100 Rises on Cooler Turkey Inflation

The rally came after consumer prices rose 1.84% on the month and 29.73% year on year, below the consensus 2.18% monthly forecast and marking the first time annual inflation has slipped under 30% since November 2021. For investors, that matters because softer price pressures improve the odds of easier policy conditions over time, which is typically supportive for valuations in a market where borrowing costs and deposit competition shape earnings expectations.

The inflation print also helped the market absorb a mixed external backdrop. U.S. services data came in weaker than expected, supporting global buying, even as high bond yields and worries over France’s public finances kept broader markets cautious. That combination left Turkey’s market with a clearer domestic driver than many peers: the prospect that inflation is finally easing enough to change the policy conversation.

Within the BIST 100, financial leasing and factoring names fell the most, down 6.74%, highlighting that not all rate-sensitive sectors benefit equally from the same macro shift. But the day’s message was still constructive for equities as a whole: lower-than-expected inflation tends to ease pressure on real returns, support risk appetite and improve the case for domestic cyclicals, especially banks.

Analysts said 12,600 and 12,700 remain the near-term resistance levels for the BIST 100, with 12,300 and 12,200 seen as support. That leaves the index close enough to recent highs that the next move may depend less on global sentiment and more on whether inflation keeps slowing enough to sustain hopes for a friendlier monetary backdrop.