Sharp Decline in Borsa Istanbul After Absolute Nullity Decision: CDS Above 250

Following the absolute nullity decision regarding the CHP congress case, significant selling pressure emerged in the markets. The BIST 100 index, traded on Borsa Istanbul, closed the day with a loss of over 6%, while the banking index fell more than 8%. These developments negatively impacted investor risk appetite. After the decision, Turkey's 5-year credit default swap (CDS) rose above 250 basis points, continuing its upward trend. A similar movement was observed in exchange rates, with the Turkish lira accelerating its depreciation. Markets experienced a day of increased volatility as political uncertainties reflected on economic indicators. Analysts note that the unease created by the decision in the markets may persist in the short term, but in the medium term, economic fundamentals and monetary policy will be effective. The deepening of sales on Borsa Istanbul led investors to reassess their portfolios. This is not investment advice.

📊 XU100 — Piyasa Yorumu

▼ down · 70%

The news headline indicates that the absolute nullity decision and the rise in CDS have created a negative impact on the market. Although the RSI is in oversold territory at 13.7 in technical indicators, the MACD and signal line remain in negative territory, with downward momentum continuing. The price is trading well below the 20- and 50-day moving averages, suggesting that the bearish trend may persist in the short term. However, due to oversold conditions, a technical rebound buying could occur, so I forecast with medium-high confidence in the downward direction.

RSI 14

13.7

MACD

-196.02

24h Δ

-6.47%

📊 DXY — Piyasa Yorumu

▼ down · 70%

Technical indicators on DXY point to overbought territory in the short term. The RSI is elevated at 66, and while the MACD remains above its signal line, momentum may weaken. A news headline reflects an increase in Turkey-specific risk, which could indirectly impact DXY. However, as DXY's own dynamics remain more dominant, the downside expectation may be limited. A pullback toward the 99.20-99.40 band in the short term is highly probable.

RSI 14

66.1

MACD

0.04

24h Δ

0.32%

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