Fund crisis and massive drop in market value on Borsa Istanbul
In the shadow of the investment fund crisis and ongoing investigations, Borsa Istanbul saw its BIST 100 market value decrease by 500 billion liras in a single week.
While Borsa Istanbul experienced sharp losses due to the investment fund crisis and liquidation decisions, the market value of the BIST 100 index dropped by 500 billion liras in a week to 12.1 trillion liras, and major price declines were recorded in numerous stocks.
Investment Fund Crisis and Limit-Down Streak
As the effects of the investment fund crisis continued on Borsa Istanbul, the limit-down streak persisted for stocks in the portfolios of portfolio management companies facing investigations and funds decided for liquidation.
One-Week Loss in Market Value
While the market value of the BIST 100 index fell to 12.36 trillion liras at the close on September 25, this figure stood at 12.8 trillion liras at the close on September 18, erasing 500 billion liras in just one week.
Intense Declines in Stocks
Out of 613 stocks on Borsa Istanbul, 581 followed a negative trend, with price drops reaching up to 90% in shares such as Hedef Holding, Pasifik Eurasia, Odine, and Gundogdu Gıda.
Latest Status on the Index and Credit Default Swap
The BIST 100 index pulled back to 12,457 points, seeing its lowest level since January, while Turkey's 5-year credit default swap exceeded 250 points.