BIST100 slips 5.4%, investor exodus amid global volatility, disappointing earnings
Borsa Istanbul 100 Index (BIST100) represents the top 100 companies listed on the Borsa Istanbul stock exchange in Türkiye. (AA Photo)
The BIST100 index at Borsa Istanbul fell by 5.4% last week, closing at 9,907 points. Contributing factors included high global market volatility, expectations of continued high domestic interest rates, geopolitical risks, and disappointing earnings reports.
Deep divergence
Shares in Katilim Evim, Bati Cimento, Turkish Airlines, Koza Madencilik, and TUPRAS surged, posting gains of between 2.6% and 23%. Conversely, the banking sector took a significant hit, with Kontrolmatik, Yapı Kredi, Is Bank, ASTOR Enerji, and Akbank enduring declines ranging from 12% to 16%.
Meanwhile, Investor numbers on the stock exchange fell by 79,718 last week, bringing the total to 7,363,000, a sharp reversal from the previous week’s increase.
Outlook, key levels
Analysts suggest a more positive outlook for BIST100 this week, supported by stable geopolitical conditions, dovish signals from the Bank of Japan, and easing U.S. recession fears.
Key levels to watch include support at 9,700 and resistance at 10,000 and 10,200. Sustained trading above 10,000 could push the index toward 10,400, with banking stocks likely leading the rally.
