Fund Manipulation and Decline Process on Borsa Istanbul
While the BIST 100 index declines due to the effects of fund manipulation in the markets, experts point out that investor confidence has been shaken.
Following the fund manipulation in domestic markets, the BIST 100 index on Borsa Istanbul fell below 12,500 points, shaking investor confidence.
The Impact of Fund Manipulation on Markets
The negative effects of fund manipulation in domestic markets continued uninterrupted throughout the week.
Following these developments, experts state that market psychology has deteriorated and confidence has been shaken.
Decline in the BIST 100 Index
Starting the week with a 1.6 percent drop at 12,690 points on Borsa Istanbul, the BIST 100 index experienced losses exceeding 3 percent during the day.
With these losses, the index fell below 12,500 points, seeing this level for the first time since March 9.
Daily Close and Sectoral Losses
The BIST 100 index managed to complete the session with a 2.38 percent loss in value at 12,593 points.
While the drop in the banking index was around 2.1 percent, larger losses were observed in other sectors.
Rates of Decline by Sector
While the daily drop rate in the informatics index exceeded 5.8 percent, losses in the initial public offering index reached 7 percent.
The loss in value in the financial leasing and factoring index surpassed 9 percent.
Presentation by the Central Bank Governor
In the shadow of ongoing economic developments, the schedule of Central Bank of the Republic of Turkey Governor Fatih Karahan is being closely watched.
TCMB Governor Fatih Karahan is expected to make a presentation at the Turkish Grand National Assembly Planning and Budget Committee on October 6.