Borsa Istanbul ends the day with a decline as Mehmet Şimşek makes a statement
While the BIST 100 index closed the day with a loss of value, Treasury and Finance Minister Mehmet Şimşek emphasized that there is no systemic risk despite a limited number of fund problems.
The BIST 100 index on Borsa Istanbul finished the day with a decline due to weak risk appetite in global markets and domestic selling, while the total trading volume reached 170.6 billion liras.
Daily Changes on Borsa Istanbul
The BIST 100 index decreased by 225.34 points compared to the previous close, while the total trading volume was recorded at 170.6 billion liras.
The banking index lost 0.55 percent and the holding index lost 4.10 percent in value.
Gainers and Losers on a Sectoral Basis
Among the sector indices, the insurance sector was the one that brought the most gain to its investors with an increase of 0.41 percent.
The sector that suffered the most losses was determined as the financial leasing factoring sector, which experienced a 9.41 percent drop.
Impact of Global Markets on the Market
Following the interest rate hike by the US Federal Reserve, the Bank of Japan's raising of its policy rate to a 31-year high affected the markets.
While high oil prices keep inflation concerns alive, the decline in oil prices partially limited the selling pressure.
Authorization in the Liquidation Process of Funds
The Capital Markets Board determined the procedures and principles regarding the liquidation process of liquidated investment funds.
Türkiye İş Bankası and Ziraat Bankası were authorized for the 131 investment funds of 7 portfolio management companies that were liquidated.
Statements by Treasury and Finance Minister Şimşek
Treasury and Finance Minister Mehmet Şimşek stated that the credit and liquidity problems in a limited number of funds were at the root of yesterday's events.
Minister Şimşek announced that there is no widespread systemic risk and no structural problem in the stock market.
Agenda and Levels Monitored by Analysts
Analysts stated that confidence indices and capacity utilization will be followed domestically next week, and PMI data will be followed abroad.
From a technical perspective, 13,200 and 13,100 points are support levels, while 13,400 and 13,500 points act as resistance levels in the BIST 100 index.