BIST 100 Index Started The Week With A Decline

BIST 100 index started the week with a decline. BIST 100 index in Borsa Istanbul lost 6.65% and started the day with 1,427.33 points.

At the beginning of the day, the BIST 100 index, which lost 101.66 points and 6.65 percent compared to the previous close, fell to 1.427.33 points. While financial leasing and factoring loss was the most with 9.57 percent among sector indices, it was observed that none of the sector indices profited their investors. BIST 100 index lost 1.41 percent and closed the day with 1.528.99 points in Borsa Istanbul, which was on the decline in the last trading day of the last week. After the opening, the Index Connected Circuit Breaker System worked in Borsa Istanbul and the continuous transactions were temporarily suspended until 10:30 am. Analysts stated that after the change in the Presidency of the Central Bank of the Republic of Turkey (CBRT), the volatility in the markets increased, and investors should be calm and the prices will find the new balance level in a short time. Reminding that the developments regarding the new type of coronavirus epidemic in global markets, the course of the bond market, speech to be made by Jerome Powell and the data calendar that will intensify as of tomorrow, analysts stated that the statements of the economy management and political developments will be followed in the country. In addition, it was emphasized that the Turkish President Recep Tayyip Erdogan's statements at the 7th Ordinary Grand Congress of the AK Party and the action program and calendar to be shared by the Minister of Treasury and Finance Lütfi Elvan regarding the Economic Reform Package will be in the focus of investors this week. In technical terms, analysts stated that the level of 1.420 is in a support position for the BIST 100 index.