Selling pressure continues in Borsa Istanbul. The BIST 100 index, halting trading twice, tested 9,000 points, reaching its lowest level in four months.

The selling pressure in the markets persists following the detention of Istanbul Metropolitan Municipality (IMM) Mayor Ekrem Imamoglu.

While the decline in the BIST 100 index in Borsa Istanbul exceeded 7% today, the circuit breaker was activated twice.

Following the resumption of trading, the BIST 100 saw a loss of nearly 8%. The index hit its lowest level since November 2024, at 9,038 points. Losses in the index have surpassed 15% this week.

Bank shares declined by approximately 10% today. Losses in the BIST bank index have exceeded 25% this week.

As of 1:00 pm, the index traded at 9,228.79 points, down by 582.15 points and 5.93% from the previous close. The holding index lost 5.53%. While all sector indices incurred losses, communication was the most affected, dropping by 9.45%.

PRECAUTIONS AGAINST MARKET VOLATILITY Central Bank took some measures following the market volatility. The CBRT initiated Turkish Lira-settled forward foreign exchange sales, conducted TL deposit auctions at various maturities. In an extraordinary meeting, the CBRT raised the overnight borrowing rate by 2 points to 46% to mitigate the inflation impact of sudden movements. Furthermore, one-week repo auctions were temporarily suspended.

The Capital Markets Board (CMB) activated decisions providing flexibility for companies in share buybacks.