BIST 100 Index Plummets: Worst Day Since May

The XU100 index fell 4.92% in the last 24 hours to 13,209, marking its worst day since May. The RSI at 12.66 indicates oversold conditions, but despite potential short-term buying in such sharp declines, the trend remains downward. The MACD is negative and below the signal line, suggesting continued selling pressure. The price is well below the 20 and 50-day moving averages, confirming a weak outlook. The news headline also emphasizes the decline; a recovery within 1-3 days may be limited and downside risks persist.

GARAN is negatively affected by the sharp decline in the BIST 100, with the stock falling 4.46% to 122.1 TL. The RSI14 at 13.07 is in oversold territory, indicating potential short-term rebound buying, but the MACD is negative and the price is below the SMA20/50, confirming a downtrend. The news headline suggests weakening risk appetite across the market; on such days, bank stocks may face additional selling pressure. In the 1-3 day outlook, downside risk persists, but due to oversold conditions, brief bounces may occur after sharp declines. Nevertheless, the main trend remains downward.

AKBNK is negatively affected by the sharp decline in the BIST 100, with its shares dropping 4.6% to 66.35 TL. The RSI14 stands at 16.9, placing it in oversold territory; while this increases the likelihood of short-term rebound buying, the trend remains weak. MACD is negative and below its signal line, and the price is trading well below its SMA20 and SMA50. The news headline indicates a deterioration in market-wide risk appetite, which could continue to pressure bank stocks. Nevertheless, due to oversold conditions, the decline is likely to slow and a volatile course may be seen.

ISCTR declined by 5.99%, in line with the sharp drop in the BIST 100, and its RSI14 at 15.9 places it in oversold territory. However, the price is well below the SMA20 and SMA50, and the MACD is in negative territory below the signal line, indicating that the downward momentum may continue. Although short-term reaction buying may occur, the overall outlook is weak; index-driven selling pressure may persist. I assess that the downside risk is more dominant for the next 1-3 days.