BIST 100 Opens Below 12,000 as Shares Slide 1.44%
The index fell to 11,896.08 at the open, while investors awaited S&P’s expected review of Turkey after markets close.
Key takeaways
- BIST 100 opened down 1.44% at 11,896.08.
- MSCI froze some index changes and warned it may review Turkey’s emerging-market status.
Turkey’s BIST 100 index opened down 1.44% at 11,896.08, falling below 12,000. It had closed the previous session 0.40% lower at 12,070.17.
Banking shares fell 1.48% at the open and holding companies lost 1.42%. The financial leasing and factoring sector dropped 6.52%, while securities investment trusts rose 0.36%.
MSCI froze some index changes until further notice following developments in Turkey’s fund market. It warned that it may start a process in June 2027 to reassess Turkey’s emerging-market status if it sees insufficient progress on allegations involving stock-market transparency and coordinated trading. Turkey’s status has not changed.
Investors were also awaiting S&P’s Turkey assessment, expected after markets close. The forecast, according to the reports, was for the agency to keep the country’s rating at BB- with a stable outlook. Analysts identified 11,800 and 11,700 as support levels for the BIST 100, and 12,000 and 12,100 as resistance.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
