BIST 100 Closes with 0.98% Decline Following Global Market Uncertainty and CBRT’s Steady Rate Decision

The BIST 100 index on Borsa Istanbul dropped by 0.98%, ending the day at 10,792.53 points.

The index decreased by 106.75 points from the previous close, with a total transaction volume of ₺123.4 billion. The banking index fell by 1.67%, while the holding index declined by 0.97%. Among the sector indices, sports gained the most with a 3.39% increase, while mining lost the most with a 1.87% decrease.

Analysts observed a mixed trend in global stock markets following Nvidia’s announcement of record-level income, despite the US Federal Reserve’s minutes suggesting that the policy rate may remain high for a longer period than expected.

The Central Bank of the Republic of Turkiye (CBRT) Monetary Policy Committee (PPK) kept the policy rate, the one-week repo auction interest rate, unchanged at 50%. The CBRT noted a limited weakening in the main trend of monthly inflation in April and a slowdown in domestic demand compared to the first quarter.

To preserve macro-financial stability and support the monetary transmission mechanism, the CBRT will take additional steps in response to recent credit growth and deposit developments. Measures include supporting Turkish lira (TL) deposits, accelerating the decline in Exchange Rate Protected Deposits (KKM), and limiting the increase in foreign currency loans. The bank has also increased the required reserve ratios for TL deposits and KKM accounts.

Looking ahead, analysts expect a calm data agenda domestically, with key international indicators such as Japan’s inflation, Germany’s growth, US durable goods orders, and the University of Michigan’s consumer confidence index being closely watched. Technically, the BIST 100 index has support levels at 10,700 and 10,650 points, and resistance at 11,000 and 11,200 points.

Source: AA / Prepared by Irem Yildiz

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