Borsa Istanbul completed 20 of the last 30 Ramadan months with an increase and completed 10 of them with a decrease.
During the month of Ramadan, Kutay Gözgör, who it the lecturer of Banking and Insurance at Nişantaşı University, stated that while the performance of the BIST 100 index was object of interest, the Istanbul Stock Exchange completed 20 of the 30 Ramadan months with an increase of 10 from 1988 to 2016. Gözgör added that it is food and retail at the beginning of these sectors that it takes place in certain sectors which are prominent during Ramadan.
Güzgör, who said that when looking at the Ramadan performance since 1988, the stock market has displayed a positive image in general terms, said that:
“The Istanbul Stock Exchange completed 20 of the 30 Ramadan months with an increase of 10 from 1988 to 2016. Though there are occasional serious rises in the sense of return, it may be more appropriate to explain these increases or decreases according to the current year's situation.
In general, however, the BIST 100 Index is positive for Ramadan. We would like to remind you that since the beginning of the year, the BIST 100 index has already increased by about 25 percent. It is to be followed whether the BIST 100 index, which has made significant increases, continues to do this during Ramadan or not”