The BIST 100 index on Borsa Istanbul started the week with a significant decline of 6.72%. When losses surpassed 5%, a circuit breaker was triggered.
At the opening, the BIST 100 index fell by 703.79 points, or 6.72%, to 9,769.69 points from the previous close.
The banking index dropped 7.79%, while the holding index lost 5.97%. All sector indices declined, with the banking sector experiencing the largest losses.
On Friday, the BIST 100 index on Borsa Istanbul closed at 10,473.47 points, down 3.01% from the previous close.
At the opening, when losses in the BIST 100 index exceeded 5%, a circuit breaker was activated.
Trading Halted
Borsa Istanbul announced that all trades in the stock market were temporarily halted due to the activation of the Index-Based Circuit Breaker System.
The announcement about the activation of the Index-Based Circuit Breaker System was published on the Public Disclosure Platform (KAP).
The announcement stated:
“As of 09:55:22, the index-based circuit breaker was triggered, and trading in all order books in the Equity Market, as well as contracts based on equities and equity indices in the Futures and Options Market (VIOP), and trades in the Debt Securities Market (BAP) Equity Repo Market, were temporarily halted. For shares traded continuously in the Equity Market, real estate investment funds, venture capital investment funds, real estate certificates, and commodity certificates, single price order collection will occur at 10:20:00, matching at 10:25, and continuous trading will resume at 10:30. For shares traded on a single price basis in the Equity Market, single price order collection will take place at 10:20, and normal trading will resume at 10:30. Trading in warrants, certificates, ETFs, and rights coupons will start at 10:30 with continuous trading. Trading for contracts based on equities and equity indices in the VIOP and trades in the BAP Equity Repo Market will resume at 10:30. The order collection process may be interrupted randomly within 30 seconds after the specified time.”
The Index-Based Circuit Breaker System on Borsa Istanbul is triggered by instantaneous losses of 5% and 7% in the index, aiming to minimize the impact of panic trades by investors.
