BIST 100 Slides at Close Amid Tight Liquidity

The BIST 100 closed the morning session with a 0.8% dip, putting investors' fragile optimism to the test.

Investor Sentiment and Trading Volume

■Trading volume shrank to 12% of the previous day's level, signaling a liquidity squeeze.

■The USD/TRY rate rose to 27.45, eroding risk appetite.

■Net institutional sell‑off amounted to +3.2 billion TRY.

Sectoral Moves and Pull‑backs

■Banking stocks fell 1.4%, while energy shares dropped 2.1%.

■Technology and defense equities posted a modest 0.6% gain, offering a narrow escape route.

■Investment funds reduced exposure to risky assets by 4.5%.

Central Bank Stance and Liquidity Dynamics

■The CBRT kept its policy rate steady at 8.5%, delaying the market‑expected easing.

■Open market operations injected a net +2.3 billion TRY of liquidity, yet the impact remained muted.

■Inflation expectations held at 62%, keeping real rates in negative territory.

Today's sell‑off underscores how fragile short‑term risk appetite has become. The contraction in SME loans and the slowdown in commercial credit growth are adding pressure on bank liquidity. The central bank’s tight monetary stance is proving insufficient to offset the external drag from a rising dollar. Without clear signals of liquidity support or credit expansion in the coming weeks, a rebound for the BIST 100 looks unlikely. In this environment, a cautious portfolio allocation and sector‑based rotation strategy should be the cornerstone of risk management.