The Istanbul Stock Exchange (ISE) National 100 Index tracks the movement of 100 stocks on the ISE. The ISE is the only securities market in Turkey, established in 1986 to provide a market for equities, bonds, real estate certificates, and foreign and international securities.
Three hundred twenty Turkish companies are traded on the ISE, which operates from 9:30 a.m. to noon and 2 to 4:30 p.m. every weekday. In addition to the ISE National 100, other indices are the ISE National All Shares, the ISE National 30, the ISE National 50, the ISE Investment Trusts, the ISE New Economy Market, and specific sector and sub-sector indices.
The earliest securities market in the region, the Dersaadet Securities Exchange, was founded in 1866, during the time of the Ottoman Empire. The DSE acted to attract foreign investors through the end of the 19th century and the early years of the 20th, and upon the creation of the Turkish Republic that superseded the Ottoman Empire, the markets were reorganized into the Istanbul Securities and Foreign Exchange Bourse in 1929—just in time for the Great Depression and other events to impact securities and capital markets worldwide. The 1980s brought an improvement to the Turkish economy, as it did to many economies of the region, and regulatory bodies were established to oversee and modernize the Turkish securities market. After several years of regulatory acts preparing for it, the ISE was established.
The list of companies on the ISE National 100 is recalculated quarterly. As of summer 2008, the list is Adana Cimento, Advansa Sasa, Afyon Cimento, Ak Enerji (50), Akbank (30), Akcansa, Aksa, Aksigorta (30), Alarko Holding (50), Albaraka Turk (50), Alkim Kimya, Anadolu Efes (50), Anadolu Hayet Emek, Anadolu Sigorta (50), Anel Telekom, Arcelik (30), Aselsan, Asya Katilim Bankasi (30), Atakule Gmyo, Aygaz (50), Bagfas (50), Banvit, Bim Magazalar, Bossa, Boyner Magazacilik, Coca Cola Icecek, Cimsa, Dogan Gazetecilik, Dogan Holding (30), Dogan Yayin Holding (30), Dogus Otomotiv, Dyo Boya, Eczaciba Si Ilac (50), Eczaciba Si Yapi, Eczaciba Si Yatirim, Ege Seramik, Enka Insaat (50), Eregli Demir Celik (30), Ford Otosan, Fortis Bank, Garanti Bankasi (30), Global Yat. Holding (50), Goldas Kuyumculuk, Grundig Elektronik, GSD Holding (30), Gubre Fabrik (50), Gunes Sigorta, Hurriyet Gzt. (30), Ihlas Ev Aletleri, Ihlas Holding (30), Is Bankasi (30), Is Fin. Kir, Is Gmyo (30), Is Y. Men. Deg, Izmir Demir Celik, Kardemir (30), Karsan Otomotiv (50), Kartonsan, Koç Holding (30), Koza Madencilik, Marti Otel, Merko Gida, Migros (30), Net Holding (50), Net Turizm, Otokar, Park Elek. Madencilik, Pera Gmyo, Petkim (30), Petrol Ofisi (30), Reysas Lojistik, Sabanci Holding (30), Selcuk Ecza Deposu, Sinpas Gmyo, Sekerbank (30), Sise Cam (30), T. Halk Bankasi (30), T. Ekonomi Bank (50), T.S.K.B. (30), Tat Konserve, Tav Havalimanlari (50), Tek-Art Turizm, Tekfen Holding (30), Tekstil Bank, Tesco Kipa, Tofas Oto. Fab (50), Trakya Cam (50), Turcas Petrol, Turkcell (30), Tupras (30), Turk Hava Yollari (30), Turk Telekom (30), Ulker Biskuvi (50), Vakiflar Bankasi (30), Vestel (50), Vestel Beyaz Esya (50), Yapi Kredi Sigorta, Yapi Ve Kredi Bank (30), Yazicilar Holding, and Zorlu Enerji.
Parenthetical numbers indicate that the company is also on the ISE National 30 or 50.
- Istanbul Stock Exchange, ise.org (cited March 2009);
- Cemal Berk Oğuzsoy and Sibel Güven, “Stock Returns and the Day-of-the-Week Effect in Istanbul Stock Exchange,” Applied Economics (v.35/8, 2003).
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