The Borsa İstanbul has fallen sharply amid rising geopolitical tensions, with the BIST 100 index plunging after Israel launched an attack on Iran, leading to steep losses, particularly in the banking and transportation sectors.
The BIST 100 index opened the day with a sharp decline, dropping 3.71% in the opening session to 9,166 points, and continued falling to 9,065 points due to heavy selling pressure, especially in transportation and communication sector stocks.
Following the market open, declines of up to 10% were observed in many individual stocks, triggering circuit breakers. As of now, the BIST 100 index is attempting to stabilize in the 9,100–9,200 range.
Concerns over how Iran may respond to Israel’s attack and fears that the tension could spread across the entire Middle East have led to negative sentiment in global markets.
In particular, oil prices saw increases of up to 10% in the early hours of the morning, while gold—viewed as a safe haven—rose by 1%, surpassing $3,400 per ounce.
Analysts stated that markets may begin a stabilization process following this panic-driven pricing and that investors will be watching for further developments and news from the region.
Israel–Iran Tensions at the Center of Market Focus
Following Israel’s attack on Iran, Iran’s state television announced that the Natanz nuclear facility had been targeted.
Israeli Prime Minister Binyamin Netanyahu stated that the attacks would “continue until the threat is eliminated.”
According to Iran’s semi-official Tasnim news agency, Israel’s early morning attacks on various Iranian cities killed several high-ranking military officials, including Chief of General Staff Major General Muhammed Bakıri, Islamic Revolutionary Guard Corps (IRGC) Commander-in-Chief Major General Hüseyin Selami, as well as nuclear scientists.
Source: Bloomberght/ Prepared by: İlayda Gök