23.10.2026 16:40
Despite the Central Bank's 100 basis point interest rate cut, selling pressure deepened on Borsa Istanbul; the BIST 100 index fell by more than 4% to 10,800 points, giving back all of the year's gains.
Although the Central Bank of the Republic of Türkiye (CBRT) cut its policy rate by 100 basis points, selling pressure deepened on Borsa Istanbul on the last trading day of the week. While the decline in the BIST 100 index exceeded 4 percent, the index fell to 10,800 points. Sharp declines led by the banking and communication sectors spread across the market.
ALL OF THE YEAR'S GAINS WERE GIVEN BACK
The BIST 100 index, which was around 15,000 points about two months ago, was pulled down to 10,800 points with the latest selling wave. With the index falling below the 11,000-point threshold, all gains achieved during the year were given back.
BANKING AND COMMUNICATION LED SECTORAL LOSSES
Leading sectors were among the areas where the decline was most pronounced:
- Communication Index: Lost more than 8 percent.
- Banking Index: Losses exceeded 6 percent.
- Financial and Industrial Indices: The decline approached 5 percent.
- Technology Index: Fell by about 4 percent.
- BIST All Index: Lost 3.5 percent.
TWO MAIN REASONS BEHIND THE DECLINE
Two main factors, domestic and international, stand out in the sharp pullback in the markets. While deepening investigations into the fund market at home negatively affected local investors' confidence; increasing global risks abroad accelerated outflows from stock markets.
GLOBAL STOCK MARKETS AND OIL PRICES STALLED
The selling wave that began in foreign markets, led by technology stocks, also put pressure on Borsa Istanbul. While the Nasdaq 100 index in the US lost nearly 3 percent; a selling trend also dominated the London, Frankfurt, and Paris stock exchanges in Europe.
On the other hand, Brent oil prices, which rose above 4 percent in the previous trading day and climbed above $114, escalated inflationary concerns again. Rising energy costs and uncertainties regarding the upcoming interest rate decision of the US Federal Reserve (Fed) are cited as among the most critical factors reducing risk appetite in global markets.