Istanbul Stock Exchange Kicks Off the Week with a Dip: Which Stocks Stood Out Today?

The BIST 100 index exhibited a seller-driven movement on the first trading day of the week. As sales persisted throughout the day, the index moved around the 8,640-point level with a decline of approximately 2.7% in the last hour. Circuit breakers were applied to numerous stocks, while the index outside the BIST 100 experienced a 2% drop as it approached the close.

The inflation data released today indicated that inflation remained above expectations in October, contributing to the ongoing sales in the BIST amid expectations that the Central Bank of Turkey (TCMB) might delay its rate cut cycle. The banking sector, which recorded a significant drop of around 5%, and the food sector, which fell around 4%, were among the most declining sectors today. No sector closed in positive territory, with the least declining sectors being SMEs, tourism, and cement.

Among the stocks in the BIST 100, those that made partial gains included ADEL, EGEEN, FENER, ENERY, OBAMS, and OYAKC. The five stocks that saw the largest declines in the BIST 100 today were: REEDR AGROT BJKAS AKBNK YEOTK

In Borsa Istanbul, along with REEDR, TSGYO and IZENR were also among the biggest losers as the day came to a close. Conversely, KRGYO, YONGA, and RTALB stocks positively differentiated themselves from the market, ranking as the biggest gainers.

In the domestic currency market, the dollar/TL remained flat throughout the day at the 34.34 level. The euro/TL continued to trade at 37.47 with a rise of 0.6%, while gold in grams moved closer to 3,030 TL with a value increase of 0.25%.

In international markets, after a positive close for Asian indices, European indices demonstrated a downward bias as they approached closing time. U.S. indices also began the new week with a slight decline.