The impact of fund liquidations continues on the stock market

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Lerato Khumalo

BIST 100 index at Borsa Istanbul, which followed a sales-oriented trend on Friday, completed the day at 13,284.42 points, losing 1.67 percent of its value.

The index dropped to 13,168.54 points at the opening today, with a decrease of 115.88 points and 0.87 percent compared to the previous closing. The banking index lost 0.09 percent and the holding index lost 2.62 percent.

Among the sector indices, the biggest gainer was transportation with 0.21 percent, and the biggest decrease was financial leasing factoring with 9.40 percent.

Global markets started the week on a positive note, driven by optimism regarding the talks to be held at the leadership level within the scope of the 81st General Assembly of the United Nations (UN) to be held in the USA.

President Recep Tayyip Erdoğan went to New York, USA, to attend the 81st UN General Assembly and hold various contacts.

Meanwhile, in line with the new principle decisions taken by the Capital Markets Board (CMB), changes were made in the fund liquidation procedures and principles announced on September 17. Accordingly, the liquidation period, which was previously determined as a maximum of 3 months, was increased to 6 months, taking into account the portfolio structures and market developments of the funds announced to be liquidated.

Analysts stated that domestic capacity utilization rate, real sector confidence index, Foreign Producer Price Index (YD-PPI) data will be followed today, and the data agenda abroad will be calm, and noted that technically, 13,000 and 12,900 points in the BIST 100 index are support and 13,300 and 13,400 points are resistance.