IMM indictment earthquake at Borsa Istanbul

The BIST 100 index at Borsa Istanbul started the day with an increase of 21.59 points, or 0.20 percent, at 10,810.62 points. The index, which showed an upward trend in the first half, reached 10,804.15 points as of 13:00. During this period, the total trading volume was recorded at 55.8 billion liras. While the banking index fell by 0.24 percent, the holding index rose by 0.68 percent. The trade sector was the top gainer with 2.87 percent, while the information technology sector was the biggest decliner with 2.14 percent.

DECISION IMPACTED THE MARKET

The announcement of the IMM indictment, which covers Ekrem İmamoğlu and 402 suspects who were detained on March 19, created a limited reaction in the markets. While the index was at the 10,780-point level at 14:30, it retreated to 10,755 points as of 15:00.

The Istanbul Chief Public Prosecutor's Office's application to the Court of Cassation for the closure of the CHP led to sharp sell-offs in the BIST 100 index. As of 15:30, the index fell to the 10,400-point level with a decline exceeding 3 percent. Losses in the banking index approached 5 percent.

Technically, the 10,900 and 11,000 levels are being monitored as resistance, and the 10,700 and 10,600 levels as support for the BIST 100 index.

News Source: 12punto