21.03.2025 11:30
The sharp volatility that started on Wednesday at Borsa Istanbul continues. On Wednesday, when losses reached 7%, the circuit breaker was applied twice, and today it was repeated as losses hit 3%. It has been announced that the upward step rule will remain in effect until the end of the session.
Critical developments are occurring one after another at Borsa Istanbul. Starting the day with a 0.53% decline at 9,758.53 points, the BIST 100 index saw a loss exceeding 5% at 10:12, leading to the implementation of a circuit breaker. Analysts indicate that the 9,600 points level stands out as a support level from a technical perspective.
The critical development was announced by the Borsa Istanbul management through a written statement. The statement included, "As of 10:12:25, due to the 3% change in the BIST 100 index, the upward step rule will be applied to short selling transactions in the trading queues where short selling can be done until the end of the session."
CRITICAL MOVE FROM THE CENTRAL BANK
Following the volatility in exchange rates, the Central Bank's Monetary Policy Committee held an unscheduled meeting yesterday. The measures to be taken were discussed in detail. The Overnight Lending Rate was increased from 44% to 46%. The Policy Rate remained unchanged at 42.50%. Analysts state that especially the increase in the overnight lending rate will lead to higher borrowing costs for banks, thereby tightening control over the Turkish lira.