Fund Crisis and Sharp Losses in Borsa İstanbul
While the BIST 100 index experienced a sharp decline at Borsa İstanbul, overshadowed by the investment fund crisis and liquidation decisions, prices in several stocks retreated to levels seen at the beginning of 2025.
As Borsa İstanbul experienced sharp losses due to an investment fund crisis and liquidation decisions, prices in many stocks heavily weighted in fund portfolios fell back to their initial public offering levels or the beginning of 2025.
Impact of the Fund Crisis on the Market
Since August 28, when the Capital Markets Board announced its new fund guide, sharp losses have continued to be experienced in Borsa İstanbul in the shadow of the investment fund crisis.
The streak of lower circuits continues in the company shares held in the portfolios of portfolio management companies under investigation and investment funds decided for liquidation.
Major Value Losses in Stocks
According to calculations, since August 28, the sharpest losses have been experienced by four stocks with price drops reaching up to 90 percent.
In 39 stocks heavily featured in fund portfolios, prices have approached either their initial public offering levels or the beginning of 2025, with some falling even below these levels.
The decline rate in the stocks of Hedef Holding, Pasifik Eurasia, Odine, and Gündoğdu Gıda has reached nearly 90 percent.
Additionally, 8 company stocks suffered losses between 70 and 80 percent, while 27 company stocks experienced losses between 60 and 70 percent.
Decline in the BIST 100 Index
While more than 70 company stocks hit the lower circuit on Borsa İstanbul, only 26 stocks were priced positively and 581 stocks followed a negative trend.
The market value of the BIST 100 index retreated to 12.36 trillion liras as of the September 25 close, losing 500 billion liras in a single week.
The index dropped to as low as 12,457 points during the day, seeing its lowest level since January 14, and completed the day with a 2.38 percent decline.
Risk Premium and CMB Statement
Turkey's 5-year credit default swap surpassed 250 points, reaching its highest level since May.
The Capital Markets Board announced that canceled orders transmitted via TEFAS on September 17 regarding funds subject to liquidation will be covered from the liquidation balance.