The BIST 100, Borsa Istanbul’s main index, ended the week at 11,116.99 points, down 5.16%. It traded between 10,707.18 and 11,806.76 during the week. The index closed below its 20-day exponential average of 12,059 and its 50-day simple average of 13,215 on Friday. Its period high remains 14,876, seen on June 19.
The week day by day
Monday, October 19, began with a 2.49% fall to 11,430 on volume of 106.1 billion TL. The Banking index rose 0.28% that day while the BIST 100 and BIST 30 fell. Tuesday brought a 3.22% rebound to 11,798, the week’s highest close, after the index dipped as low as 11,353 earlier in the session. Wednesday gave back 1.87% to 11,577, with 572 stocks in BIST Tüm falling against 52 rising.
Thursday, October 22, was the heaviest daily loss of the week. The BIST 100 fell 3.08% to 11,220, closing at the session’s low, and the BIST 30 and Banking indexes also finished at their lows. The Banking index lost 3.62%. Turkey’s central bank (TCMB) cut its policy rate by 100 basis points to 36.0% that day. On Friday the index fell a further 0.92% to 11,117, after touching an intraday low of 10,707 on volume of 148.8 billion TL. It could not recover to its opening level of 11,234.
Sectors and stocks
Sector indexes fell across the board. Industrials lost 8.47% to 13,561.97 and financials fell 6.64% to 12,933.69. Services declined 5.53% to 9,597.27, and technology was the smallest loser, down 2.16% at 35,464.77.
Among BIST 100 stocks, Aksa Akrilik led the gainers with a 3.31% rise, while Halkbank and Sabancı Holding each gained 1.99%. The sharpest losses were in 1000 Yatırımlar Holding (down 22.22%), Türkiye Sigorta (down 20.27%) and Gübre Fabrikaları (down 19.92%).
Gold, oil and currencies
Gold fell sharply. Ounce gold slipped from $4,148.68 on Monday to $3,996.22 on Friday, including a 2.16% drop on Thursday. In Turkey, the 24-karat bullion gram price lost 4.18% over the week. The Republic gold selling price fell 3.34% and the quarter-gold selling price fell 3.37%. Silver ended Friday at $54.13.
Brent crude rose from $105.89 on Monday to $112.00 on Friday, up 2.63% on the final day. The reports cite Middle East tension and energy supply concerns. Against the lira, the dollar rose 0.36% to 49.7060 and the euro rose 0.03% to 55.7790. Sterling gained 0.69% to 66.5890 and the Swiss franc gained 0.34% to 60.3750.
This review summarises Parademi’s daily market reports and is not investment advice.
