Borsa closes the week with declines due to fund crisis and investigation impact
In a week overshadowed by the fund crisis and manipulation investigation, all main sector indices declined, and a total of $117 billion evaporated from the stock market.
While the impact of the manipulation investigation targeting funds and stocks persisted in the stock market, a significant decline was observed across all main sector indices on a weekly basis, leading to massive losses in the markets.
Sharp Declines in Sector Indices
The sharpest weekly losses were recorded in the industrial and financial indices. The financial index fell by 7.63% to 14,633.06 points, while the industrial index decreased by 7.76% to 15,975.44 points.
Status of Technology and Services Indices
The technology index finished the week with a 2.96% loss at 39,290.84 points, whereas the services index dropped by 3.34% to 10,934.69 points.
The Cost Created by the Fund Crisis Grew
As the bill for the fund crisis continued to weigh heavily, a total of $117 billion in market value evaporated as a result of the general downward wave in the stock market.
Top Gaining Stocks of the Week
Among the companies included in the BIST 100, the top gainer of the week was Bera Holding, reaching an increase rate of 13.81%. This company was followed by Otokar with a 12.20% gain and Borusan Boru with a 4.69% premium.
Top Losers of the Week
Affected by the general downward movement in the markets, the stocks that lost the most value during the week were CW Enerji with a 18.84% drop, Astor Enerji with a 15.79% loss, and Tukaş with a 15.28% decline.
Companies with the Highest Market Value
Among the companies traded on Borsa Istanbul, ASELSAN had the highest market value, which was measured at approximately 1 trillion 654 billion liras.
Continuation in Market Value Rankings
ASELSAN was followed by Tüpraş with a market value of approximately 726 billion liras, and these two giants were followed by Garanti BBVA with a market value of 528 billion liras.