BIST 100 Plunges to 14,200, Sending Shockwaves Through Turkish Markets

BIST 100 plummets to 14,200, sending shockwaves through Turkish markets as the index drops 307.50 points.

Losses and Gains

■BIST 100: -307.50 points, -2.18%

■Banking Index: -2.38%

■Holding Index: -1.43%

■Top gainers: Financial Leasing & Factoring +5.08%

■Top losers: Telecommunications -7.45%

Shadow of Global Markets

■Fed Chair Kevin Warsh’s Jackson Hole remarks bolstered expectations of rate hikes.

■Rising tensions in the Middle East weighed negatively on global markets.

■Investors see 14,200 and 14,100 as support levels, 14,400 and 14,500 as resistance.

Tomorrow’s Focus: PMI and Data Agenda

■Domestic Purchasing Managers Index (PMI) data will be released.

■Global Manufacturing PMI and Eurozone Inflation figures will be monitored.

■Technical analysis points to support at 14,200 and 14,100, resistance at 14,400 and 14,500.

Markets are volatile amid Fed rate hike expectations and Middle East tensions. The drop to 14,200 has shaken investor confidence, while upcoming PMI releases could set the next direction.