Borsa Istanbul index BIST 100, which closed last week with a decline, started the second half of September with sellers. The index, which opened the first session of the week with 7,952 points, fell by 3.54% on Monday as a result of the increasing selling pressure at noon.
Thus, the BIST 100 index experienced its biggest decline on a daily basis since July 18, 2023.
After the BIST 100 index lost its short-term support of 8,000 last week, we witnessed that this number now acts as resistance on Thursday and Friday. The index, which fell below the 20- and 50-period exponential moving average, lost its support at 7,850 today.
In addition to the support the stock market lost today, the 100-day exponential moving average of 7,709 points is of critical importance. If BIST 100 can maintain above this figure in the next day, it may move to 7,850 points again. However, in a scenario where the selling continues, investors are likely to follow the 7,400 support.
Results emerged for Reeder Technology, one of the companies that went public on the first business day of the week. Approximately 5% of Türkiye’s population became REEDR partners.