Metals are important for many government, institutions and people from the past to the present. The metals that attract attention due to the fact that they are raw or auxiliary materials in terms of industrial establishments have recently been included in the portfoio as an investment instrument. The aim of this study is to examine the relationship between the BIST industry index and the metals (aluminum, copper, nickel, lead) selected according to the criteria of frequenty used by the Toda Yamamoto causality test for the period 2004:08 - 2016:08. According to the results of the analysis, while there is a causality from aluminum and copper to Bist Industry Index, no causality from other metals to industry index. In addition, it has been detected that there is no causaltiy from BIST Industry Index to aluminum and copper when the mutual causality relation is examined.
BIST, Industry Index, Metals, Toda-Yamamoto, Bootstrap