Turkish stock exchange under scrutiny after massive losses in Friday’s session
An electronic display shows BIST 100, Türkiye's benchmark stock index declining. (Adobe Stock Photo)
The Turkish Capital Markets Board (SPK) has launched an investigation into unusual price movements in the Turkish stock exchange, Borsa Istanbul following a 2.09% plunge on Friday, driven by a wave of sell-offs.
In a statement released on Friday night, the board said that all institutional transactions are under review by the SPK and Borsa Istanbul.
The SPK emphasized that any actions or transactions disrupting the security, transparency, and stability of the capital markets would result in administrative and/or criminal sanctions under the Turkish Capital Markets Law.
“Our board has immediately initiated the necessary legal procedures and investigations against those responsible for deliberate and misleading reports that caused extraordinary price and volume fluctuations,” the statement read.
Massive sell-off triggers weekly decline in Turkish stock exchange
Turkish stock exchange benchmark, the Borsa Istanbul 100 index (BIST 100), closed Friday at 9,602.16 points, marking a 2.79% decline for the week.
The BIST 100 opened the day at 9,923.44 points and lost 205.34 points compared to Thursday’s closing level. The index hit an intraday low of 9,474.03 and a high of 9,829.89.
A total of 93 stocks on the index saw losses, while only seven recorded gains. The total trading volume reached ₺108 billion ($2.96 billion), while the index’s total market value stood at ₺8.45 trillion.
