Stock Market Closes Lower as Investigation Permission Issued for Former CMB President

While the BIST 100 index declined compared to the previous close, expectations regarding the Fed's moves following US inflation data played a role in global markets. Domestically, it was reported that the Ministry of Treasury and Finance granted permission to investigate the former Chairman of the Capital Markets Board.

Markets and Trading Volume in the BIST 100 Index

The BIST 100 index decreased by 132.3 points compared to the previous close, while the total trading volume reached the level of 86.1 billion liras.

Sector Performance and Value Losses

While the banking index lost 1.35 percent in value, the holding index also experienced a 1.66 percent drop.

Among sector indices, insurance gained the most with 0.65 percent, while financial leasing and factoring lost the most with 6.08 percent.

Global Markets and US Inflation Data

In the US, inflation in September increased by 3.7 percent on an annual basis.

As inflation exceeded expectations, projections that the US Federal Reserve will go for a rate hike strengthen, which dampens risk appetite in global markets.

Investigation Permission for Former CMB President İbrahim Ömer Gönül

While developments regarding the fund issue were closely followed domestically, an important administrative step was taken.

Treasury and Finance Minister Mehmet Şimşek granted permission to investigate former Capital Markets Board President İbrahim Ömer Gönül based on the Ministry Inspection Board's preliminary review report.

Technical Analysis Levels and Support Points

Analysts stated that from a technical perspective, 12,100 and 12,000 points are in the position of support in the BIST 100 index.

It was noted that for upward movements in the index, the 12,300 and 12,400 point levels will be monitored as resistance.