The impact of the US elections caused the Istanbul Stock Exchange to turn upwards. The BIST 100 index exceeded 8,880 points with a gain of over 3 percent. The rise was driven by banking and trading shares.

The Istanbul Stock Exchange responded positively to the US elections.

Donald Trump unofficially became the new president of the US. Republican candidate Trump received 51.2 percent of the votes. He surpassed the required 270 delegate count and obtained 277 delegates.

The initial reaction of the Istanbul Stock Exchange to Trump was positive. The BIST 100 index surpassed 8,880 points with a gain of over 3 percent. The total trading volume exceeded 52 billion Turkish lira.

While all sector indices rose, trade saw the highest gain with 6.11 percent. Banking shares also extended their gains by over 3 percent.

Experts stated that the expectation of positive relations between Turkey and Trump was reflected in the market.

Analysts noted that from a technical perspective, the BIST 100 index’s resistance levels were at 8,900 and 9,000 points, with support levels at 8,800 and 8,700.

Furthermore, President Recep Tayyip Erdogan congratulated Donald Trump on his victory in the US elections. Expressing hope for stronger Turkey-US relations in the new era, President Erdogan said, “I hope for an end to crises and wars on a regional and global scale, such as the Palestinian issue and the Russia-Ukraine conflict, and believe that more effort will be made for a fairer world.”