The long-awaited decision for Borsa Istanbul has finally come. All transactions on Borsa Istanbul have been temporarily suspended.
As Turkey tries to heal the wounds of the double earthquake that took place on February 6, Borsa Istanbul There has been an important development. On the third day of the disaster, Borsa İstanbul until February 15 transactions are completely closed. However, there was a serious loss in this process. Borsa İstanbul’s three-day depreciation 16.2 percent reached level. When we look at what has happened so far, it should be noted that there has been a general reaction.
In the statements made, it was stated that the transactions will be closed for 5 business days until the evening of 14 February. In addition It is also stated that all orders and transactions made on February 8 have been cancelled. transferred. The statement made by BIST was as follows;
“Borsa İstanbul A.Ş. Pursuant to paragraph 1 of Article 39 of the Regulation on Principles of Exchange Activities, the Equity Market and Equity and Equity Index Derivatives Markets within the Futures and Options Market will be closed on February 8, 2023 at 11:00 for 5 working days (until the evening of February 14, 2023). and taking into account the low transaction volume that does not allow healthy price formation in closed markets, it has been decided to cancel all transactions carried out on 8 February 2023 in accordance with paragraph 1 – c of Article 33 of the BİAŞ Regulation, titled ‘Cancellation of Orders and Transactions by the Exchange’.
Why was Borsa Istanbul closed?
As a matter of fact, the closure of Borsa İstanbul is very difficult. it’s not surprising. Because, investors express in their social media posts that the stock market should be closed from the very first day. However, no such thing happened. Borsa İstanbul management took measures such as banning short selling at the first stage, but these measures did not prevent the depreciation in Borsa İstanbul. not enough.
In the chart above, Bosa Istanbul BIST 100 index you see. The stock market, which had a very good period for a while, started to eat serious sales due to the double earthquakes in Kahramanmaraş. Borsa Istanbul, which closed Monday with a loss of 1.35 percent, lost 8.62 percent yesterday. When the depreciation in the last 24 hours was over 7 percent, the total depreciation from February 6 to today exceeded 16 percent.. As such, it was decided to close Borsa İstanbul.
Why was the stock market closed?
like an earthquake in emergency situations It’s no surprise that the stock market is down. The situation in Borsa Istanbul was also normal. However, the fact that the stock market was not closed confused things. Investors are on channels like Twitter.#borsadaislemleruptaledilsinThey shared thousands of posts with tags such as “. Borsa İstanbul, which has resisted until today, has taken the expected decision as of today.
Opportunists showed themselves here as well: Cement and construction companies were appreciated!
In the screenshot above, in Turkey cement producer You can see the price changes in the shares of the companies. Let’s explain the table with an example and help you understand it better: “KONYA”, the shares of the company named Konya Çimento increased by 10 percent in a 24-hour period. The situation is not limited to Konya Cement. Other cement companies such as Niğde Concrete Industry, Çimbeton, Afyon Çimento, Oyak Çimento and Nuh Çimento also gained in value. Almost all of the cement companies, around 20% in a two-day period gained value.
Let’s explain this in a simpler way. Reconstructions will be carried out in all cities affected by the earthquake after the wreckage works are completed. As a result, cement factories will get big jobs and speed up production. literally opportunists, already taking into account the events to be experienced in the upcoming period, they were sure that the cement would appreciate in value, and they made share purchases. When that day comes, cement companies will be valued due to the increase in demand, stocks would rise. They would have made a profit, too.
Let’s go back to the past: What happened in the stock market after the 17 August earthquake?
*An image from the earthquake that took place on August 17, 1999.
It is not the first time that Turkey has experienced a major earthquake. For example; August 17, 1999 earthquake. The stock market, which was called the Istanbul Stock Exchange (ISE) at that time, was closed just after the earthquake. Until Thursday, August 26, 1999 it was closed…