Effects of COVİD-19 pandemic on the relationship of bist indices with macroeconomic variables: An empirical study

The relationship between stock returns and macroeconomic variables, especially considering the circumstances created by recent global developments, has increasingly attracted the attention of researchers and practitioners. Investors can adjust their portfolios by taking into account the macroeconomic factors that affect stock returns, while policymakers can make various decisions based on this information. Therefore, it is expected that investors should consider the factors affecting stock returns before investing in stocks, which can contribute to minimizing potential risks and achieving higher returns. In this context, it is important to examine the effects of macroeconomic variables and global events that affect markets on stock prices. These effects can be revealed through analyses based on data obtained before events occurred, along with examinations to be conducted during and after the events. This thesis aims to investigate the impact of macroeconomic factors on the stock market in Turkey between 2010-2023, within the scope of BIST 100, BIST Industry, and BIST Financial indices. Additionally, it aims to analyze the impact of the Covid-19 pandemic, which influences global markets, on macroeconomic variables and stock indices.