This study investigates the relationship between the CBRT Consumer Confidence Index, Bloomberg HT Consumer Confidence Index, and the VIX Index, which represent investor sentiment, and the BIST 100 Index. This study covers the period January 2007-August 2020, and monthly data are used. Cointegration tests results' show a cointegration relationship between the BIST 100 Index and the Bloomberg HT Consumer Confidence Index and VIX Index. However, a cointegration between BIST 100 Index and CBRT Consumer Confidence Index has not been determined. According to the causality analysis, there is one-way causality from the BIST 100 Index to consumer confidence indices and one-way causality from the VIX Index to the BIST 100 Index.
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