Strong reaction from experts to record-breaking volatility in BIST: CMB should initiate an investigation

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After the announcement that Turkey signed a new agreement to procure new S-400 air defense systems from Russia, Borsa Istanbul experienced the highest intraday activity since 8 June. İbrahim Turhan, former General Manager of Borsa İstanbul, said, “The CMB needs to make an investigation. Such manipulation cannot happen.” said.

Turkey is new to Russia S-400 Borsa İstanbul had a busy day with the signing of a new agreement to supply air defense systems. BIST 100 lost value close to 3 percent for a while, but it went up again with the purchases from the bottom. İbrahim Turhan, former General Manager of Borsa İstanbul, stated that the highest intraday volatility has occurred in the BIST 100 since June 8 with the news flow, and said, “The CMB needs to investigate. Such manipulation cannot happen.”

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İbrahim Turhan, former General Manager of Borsa İstanbul

S-400 MOBILITY ON THE EXCHANGE

It was an active day in Borsa Istanbul. BIST 100, which suffered a heavy loss with the claims of the S-400 deal, ended the day positively with purchases from the bottom. BIST 100 closed the day at 2,913.30, with an increase of 1.96 percent.

While the director of the Russian military cooperation institution said that a contract was signed to send a second set of S-400 air defense systems to Turkey, the Presidency of Defense Industries rejected this claim. “According to the agreement made on the first day, the process continues,” SSB said. made a statement.

Losses in BIST 100 accelerated due to the concerns created by the alleged agreement with Russia under sanctions. BIST 100 declined by nearly 3 percent to 2,773 points. Afterwards, the index recovered with the purchases made from the bottom and moved to the plus again. Thus, the highest intraday volatility was experienced in BIST 100 since 8 June.

REACTION TO RECORD-BREAKING volatility

İbrahim Turhan, the former General Manager of Borsa İstanbul, reacted to the highest intraday volatility since 8 June with the news flow in Borsa İstanbul. Making a statement from his social media account, Turhan said, “The CMB needs to investigate. Such manipulation cannot happen!” used the phrases.