Determining the relationship between oil prices and BİST indexes

The study found no cointegration relationship between the variables in the long term. However, a unidirectional causality relationship was found from oil prices to the BIST100 and BIST Industry indices. For the other indices, no causality relationship with oil prices was found. These findings indicate that changes in oil prices affect some sector indices, but this impact is not uniform across all indices. Therefore, it is necessary for investors and policymakers to carefully evaluate the sectoral effects of oil prices. This study aims to shed light on the complex relationships between oil prices and stock markets and contribute to the literature in this field.