Inflation Shock at Borsa Istanbul: BIST 100 Closed with a Sharp Decline

Positive Trend Amid Global Market Uncertainties

Global economic developments are creating a certain degree of uncertainty due to the potential government shutdown in the U.S. However, the increasing expectations for an interest rate cut in the U.S. have created a positive atmosphere for investors. This situation has led to a more positive outlook for markets around the world.

Concerns Over Inflation in Borsa Istanbul

Domestically, Borsa Istanbul faced significant challenges this week. The BIST 100 index recorded an increase on only one day over the week, and most recently, it closed yesterday with a loss of 1.23%. The temporary rise at the opening was extinguished by higher-than-expected inflation figures for September.

In September, the Consumer Price Index (CPI) showed a monthly increase of 3.23% and a yearly increase of 33.29%. Economists had anticipated that inflation would rise to 2.47%. After the announced data, the BIST 100 index began to decline due to selling pressure, moving into negative territory later in the day.

How Did the BIST 100 Index Perform Throughout the Day?

In the morning hours, the index rose to 11,116.89 points with an increase of 34.26 points or 0.31%, but in the first half of the day, it dropped by 0.89% to 10,984.22 points. The total trading volume was recorded at 62.2 billion lira. The banking index lost 2.41%, while the holding index decreased by 0.22%. Among sector indices, the mining sector achieved the highest gain of 3.40%, while the financial leasing and factoring sector experienced the most significant decline at 8.09%.

Deepening Losses in the Afternoon

In the afternoon, the BIST 100 index intensified its losses amid concentrated selling, closing down by 2.02% at 10,858.52 points. The total trading volume reached 127.4 billion lira. The banking index fell by 4.36%, and the holding index dropped by 1.34%.

Technical Outlook and Support-Resistance Levels

Analysts emphasized that the real effective exchange rate, treasury cash balance, and industrial production figures, to be announced next Wednesday, should be closely monitored. It was noted that data such as retail sales in the Eurozone and the European Central Bank meeting minutes will be examined abroad. Additionally, it is expected that the data to be released in the U.S. may be postponed despite the federal government shutdown. From a technical perspective, support levels for the BIST 100 index are seen at 10,750 and 10,650, while resistance points are at 11,000 and 11,100.