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Turkey's benchmark stock index rose 0.38 percent or 364.01 points to open the day at 96,451.28 points on Tuesday.
At the daily open, all sector indices saw rises, but the BIST telecommunication index gained the most -- up 0.85 percent.
Borsa Istanbul's BIST 100 index surged 1.27 percent on Monday to close the day at 96,087.27 points, with a trading volume of 7.6 billion liras ($1.23 billion).
The International Monetary Fund on Monday reduced global growth forecasts in its biannual World Economic Outlook report.In the report, titled "Challenges to Steady Growth", the fund reduced expectations for both advanced economies and emerging markets alike, revising its global growth forecasts from 3.9 percent to 3.7 percent for both 2018 and 2019 due to increasing risks from higher customs tariffs, political uncertainty and capital outflows.The international lender also lowered Turkey’s growth predictions from 4.2 percent to 3.5 percent in 2018 and from 3.9 percent to 0.4 percent in the following year.Besides the country’s growth rate, the IMF predicts an increase in Turkey’s consumer price index of 15 percent by December and 16.7 percent by the end of 2019.The IMF forecast the country's unemployment levels at 11 percent in 2018 and 12.3 percent in 2019.Also, the report predicted Turkey’s current account deficit to GDP ratio would be realized at 5.7 percent this year, dropping 1.4 percent by the end of 2019.Among advanced economies, the French and German growth outlooks were most severely cut, with expectations for Germany falling from 2.2 percent to 1.9 percent in 2018 and from 2.1 percent to 1.9 percent the following year.Forecasts for France show a 1.6 percent growth rate for both years, down from 1.8 percent for 2018 and 1.7 percent for 2019.While its U.S. forecast for 2018 remained stable at 2.9 percent, growth for 2019 was cut from 2.7 percent to 2.5 percent due to trade disputes with China.
IMF slashes global growth outlook
The U.S. dollar/Turkish lira exchange rate was 6.0980 as of 9.30 a.m. local time (0630GMT), compared with Monday's closing rate of 6.1260.
The euro/lira rate was 7.0020 on Tuesday morning, versus 7.0340 at the previous close, while one British pound was traded for 7.9940 Turkish liras, down from 8.0100 at Monday's close.
The price of Brent oil was $84.46 per barrel as of 10:30 a.m. local time (0730GMT) Tuesday, starting the day at $83.73, up from around $66 at the beginning of this year.