Turkey’s benchmark BIST 100 index posted the week’s biggest loser among major domestic investment tools, tumbling 4.44% as investors rotated out of stocks and into cash-like funds, gold and foreign currency.
Turkey BIST 100 Falls 4.44% as Gold Rises
The selloff left the index at 11,721.72 points after trading between 11,653.38 and 12,291.17 during the week, underscoring how quickly risk appetite can fade when equities come under pressure. For investors, the move matters because it shows capital moving toward defensive hedges rather than growth-sensitive assets.
Sentiment Indicators
Gold was the clearest beneficiary. The gram price of 24-carat bullion edged up 0.05% to 6,648 lira, while the republic gold coin rose 0.04% to 43,327 lira and the quarter coin gained 0.04% to 10,887 lira. The gains were modest, but they kept gold on the positive side of the ledger as stocks slumped.
Foreign exchange also firmed, with the dollar selling price rising 0.37% to 49.5270 lira and the euro climbing 0.93% to 55.7610 lira. The euro’s stronger weekly advance points to ongoing demand for hard currency protection, a development that tends to weigh on local assets and complicate portfolio allocation.
Investment funds also weakened on the week, falling 1.79%, while pension funds declined 0.13%. The one clear winner in the fund universe was money market funds, which returned 0.83%, reinforcing the appeal of lower-risk instruments when equity markets are under stress.
The pattern leaves a simple message for investors: this week’s money was made in defense, not in risk. Unless equities stabilize and the lira steadies, the next move is likely to favor gold, cash equivalents and foreign currency over Turkish stocks.
| Entity | Gains | Losses |
|---|---|---|
| Money market funds | ▲Highest weekly return | ▼Miss out on equity upside |
| Gold | ▲Modest weekly rise | ▼Lags stronger FX gains |
| Dollar and euro | ▲Higher lira prices | ▼Pressure local assets |
| BIST 100 stocks | ▲None | ▼Biggest weekly loss |
