BIST 100 Index Finishes the Day Down on Borsa Istanbul
While the BIST 100 index closed the day with a decline, Treasury and Finance Minister Mehmet Şimşek emphasized that there is no systemic risk in the markets.
On Borsa Istanbul, the BIST 100 index finished the day down under the influence of weak risk appetite in global markets and domestic selling, with total trading volume reaching 170.6 billion liras.
Decline in the Index and Trading Volume
The BIST 100 index decreased by 225.34 points compared to the previous close, while the total trading volume on the stock exchange reached the level of 170.6 billion liras.
Sector Performance
The banking index lost 0.55 percent and the holding index lost 4.10 percent in value. Among the sectors, insurance was the top gainer with 0.41 percent, while financial leasing and factoring was the top loser with 9.41 percent.
Impact of Global Markets
Steps taken by the US and Japanese central banks and high oil prices kept inflation concerns alive and weakened risk appetite, although the decline in oil prices limited the selling pressure.
Statement from Minister Şimşek
Treasury and Finance Minister Mehmet Şimşek stated that the developments stemmed from credit and liquidity problems in a limited number of funds, and that there was no widespread systemic risk or structural problem.
CMB and Fund Liquidation Process
While the procedures and principles of investment funds liquidated by the Capital Markets Board were determined, Türkiye İş Bankası and Ziraat Bankası were authorized in the liquidation process of 131 funds belonging to 7 portfolio management companies.
Data to Watch Next Week
Analysts noted that domestic real sector confidence index, capacity utilization, and consumer confidence index, as well as foreign PMI data, will be monitored next week.
Technical Levels and Supports
Market experts stated that technically, 13,200 and 13,100 points are support levels, while 13,400 and 13,500 points act as resistance for the BIST 100 index.