BIST 100 Rises on Bargain Buying; SPK Announces Fund Payments

The BIST 100 index closed higher on Thursday, recouping losses from the previous three sessions as bargain buying spread across the market. Total trading volume reached 188.6 billion lira according to early reports, though a later publication cited a lower figure of 124.8 billion lira. The banking index rose 1.94% in the initial count, while a subsequent report showed it gaining only 0.38% and the holding index slipping 0.73%.

Sector performance diverged sharply between reports. Early data named the technology sector the top gainer with a 5.26% rise, while a later account identified tourism as the leader at 3.43%. Both sources agreed that financial leasing and factoring was the worst performer, dropping over 7%.

“We are successfully overcoming the problem emerging in a certain part of the fund market. We are resolving this matter swiftly within the framework of capital market rules, observing justice and fairness, without letting anyone usurp another's rights.”

The Capital Markets Board (SPK) announced interim payments for investors in funds undergoing liquidation. Payments will be deducted from final liquidation proceeds and capped at 1 million lira per investor per fund. President Recep Tayyip Erdoğan stated the government is resolving the fund issue within capital market rules without letting it threaten economic security.

Analysts flagged the Fund Coordination Council's second meeting on Friday and a heavy global data calendar including US non-farm payrolls and Eurozone inflation. Technical resistance for the BIST 100 is seen at 12,400-12,500 points with support at 12,000-12,100.