Stock Market Falls In Istanbul

Stock Market Falls In Istanbul

  Borsa İstanbul 100 index starts the new week with a decrease; continues its decline during the day. The BIST 100 index is trading below the 114 thousand level in the following minutes. Borsa İstanbul 100 index decreased by 1.58 percent at the opening and decreased to 114 thousand 984 points. While the BIST 100 index continued to decrease in the following hours; As of 14:30, it was traded from 113 thousand 936 points with a decrease of 2 thousand 903 points. Stocks, on the other hand, fell by 2.47 percent on average. The banking index also dropped by 3.27 percent to 155,334 points.   EPIDEMIC EFFECT While the number of people who died in the new type of coronavirus epidemic in China has reached 2,494, the increase in the number of cases in other countries, especially in Italy, South Korea and Iran, causes an increase in market concerns. On the last trading day of last week, the BIST 100 index, which was boosted by purchases from the 114,500 level that analysts described as supportive,finished the day up 1.03 per cent from the previous close at 116,829.39 points. According to an assessment released after markets closed on Friday, international credit rating agency Fitch Ratings confirmed Turkey's "BB-" rating and "stable" outlook. The assessment drew attention to the upward revision of Turkey's growth expectation for 2020 from 3.1 per cent to 3.9 per cent. Analysts stated that developments regarding Syria remain at the center of the agenda, and that the news of coronavirus outbreak will also be determinant on the global risk appetite.