02.09.2025 23:46
The cancellation of the CHP Istanbul Provincial Congress and the dismissal of Özgür Çelik impacted the stock market. The loss in Borsa Istanbul exceeded 5%. The decline in the banking index rose to over 6%. Experts stated that it was an unexpected decision and that investors turned to panic selling.
In the lawsuit filed for the cancellation of the congress held in Istanbul on October 8, 2023, the court decided to remove Özgür Çelik and the current administration from their positions.
DELEGATES REMOVED FROM OFFICE
The 45th Civil Court of First Instance decided to temporarily suspend the duties of 196 delegates and to halt the ongoing congress process.
"WE ARE TRYING TO UNDERSTAND THE ISSUE"
CHP Istanbul Provincial Chairman Özgür Çelik made a statement to NTV regarding the issue. In his first statement, Çelik said that they had not yet received any notification and stated, "We are trying to understand the issue."
GÜRSEL TEKİN APPOINTED AS ADMINISTRATOR
Gürsel Tekin was temporarily appointed to the Istanbul Provincial Chairmanship. Zeki Şen, Hasan Babacan, Müjdat Gürbüz, and Erkan Narsap were brought into the administration.
LOSSES EXCEED 5%
Borsa Istanbul started the second trading day of the week with an increase, but then turned downward. Losses in the BIST100 index deepened after the Istanbul 45th Civil Court of First Instance annulled the CHP Istanbul provincial congress, with declines exceeding 5%. In the banking index, the decline surpassed 6%.
As of 16:02, the BIST100 index was moving at 10,704 points with a loss of 5.06%, while the banking index was at 15,245 points with a decrease of 6.58% at the same time.
From a technical perspective, the support levels for the BIST 100 index are at 11,200 and 11,100, while the resistance levels are at 11,400 and 11,500 points. Yesterday, the Borsa Istanbul, which followed a selling-weighted trend, closed the day with a loss of 0.07%, finishing at 11,279.95 points.