Shafaq News/ On Monday, Turkish stocks rose by 3.1%,recovering some of the significant losses recorded last week following adecision by Turkiye’s Capital Markets Board to ban short-selling on the stockexchange.
The benchmark Istanbul stock exchange index had ended lastweek with a 16.6% drop, marking its biggest weekly decline since the globalfinancial crisis of 2008.
The banking sector sub-index also saw a 3.23% increase by08:56 GMT, after suffering losses exceeding 26% the previous week.
The Turkish lira was stable, trading at 37.9550 against thedollar, showing little change from Friday's close at 37.9500, after it fell by3.5% last week.
Additionally, Turkiye's international sovereign bondsrecovered some of their losses, with bonds maturing in 2045 rising by 0.7 centsto 83.7 cents on the dollar, according to TradeWeb data. These bonds haddropped more than three cents last week.
The market turbulence has been significant since the arrestof Istanbul Mayor Ekrem ?mamo?lu on Wednesday, which triggered sharp declinesin the lira, stocks, and bonds. This prompted Turkiye’s Capital Markets Boardto implement exceptional measures, including the short-selling ban and easingrestrictions on share repurchases.