The impact of the energy sector on the markets (The relationship between energy sectors and BIST100)

This study is based on the definition of energy, its types and the effectiveness of its sectors in the markets. Classical energy sources and alternative energy sources are mentioned. Oil and natural gas sectors, where the fossil fuel group in the classical energy sources has the highest efficiency in the markets today, have been analyzed and interpreted on a global scale through research and graphics. Renewable energy sources are included in a general group and analyzed under the title of Renewable energy sector. In order to examine the efficiency of the dependent variable Bist100 and the independent variable oil and natural gas, the stationarity of the variables in the model was determined with the ADF unit root test. Johansen cointegration analysis revealed two cointegrations. Granger Causality test was applied to determine the causality of cointegration values and the direction of the relationship. Since all of our series are non-stationary at the level, Granger causality was performed through the VECM model. According to the Granger result, there are two unidirectional causality relationships in our variables.