Stock exchange cuts circuit at opening

Borsa Istanbul was shaken by the selling pressure in global markets.

According to the statement made by Borsa Istanbul to the Public Disclosure Platform, the circuit breaker was triggered immediately after the opening of the stock exchange.

The statement reads, “As of 09:55:22, the Index-Based Circuit Breaker System has been activated. Transactions have been temporarily suspended in all lines in our Stock Market, in stocks and stock index-based contracts traded in the Futures and Options Market, and in the Debt Securities Market Equity Repo Market.”

Trading will resume on the stock exchange at 10:20 with single price collection and at 10:30 with buy-sell transactions.

GLOBAL DEVELOPMENTS HIT THE ISTANBUL STOCK EXCHANGE

Developments that suppressed global risk appetite, such as concerns that the US could enter a recession, increasing tension and geopolitical risk in the Middle East, and concerns about interest rates and inflation in the country triggered the decline in the stock market.

The index started the day with a 6.7 percent decrease and the index-based circuit breaker was activated. The decline in bank shares led the decline in the stock market.

BIST 100 index in Borsa Istanbul, which followed a sales-heavy trend on Friday, closed the day at 10,473.47 points, losing 3.01 percent compared to the previous close.