Turkey’s benchmark stock index on Thursday hit the highest closing level in its history, a record 121,423.34 points, up 0.98% from the previous close.

Borsa Istanbul’s BIST 100 index started the day at 120,392.65 points. As of the daily close, it had earned 1,174.31 points from last week’s close of 120,249.03 points.

Analysts said the markets are feeling the positive effects of improvements in macroeconomic indicators such as inflation, CDS premiums. and GDP.

During the day, the index hovered between 119,574.71 points and 121,504.40 points. The index has been rising for 10 consecutive weeks.

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Read more: Turkey's Borsa Istanbul hits historic high at close