Turkey’s sovereign wealth fund stepped in to buy shares through exchange-traded funds run by Ziraat Portfolio as authorities tried to halt a sharp market slide that has rattled local funds and shaken confidence in Borsa Istanbul.
Turkey Wealth Fund Buys Borsa Istanbul ETFs
The move matters because the selling pressure in Turkey has spread beyond individual stocks and into the plumbing of the market, forcing regulators, the central bank and state institutions to act at the same time. When official buyers enter the market, it can slow forced liquidations, support liquidity and reduce the risk that a fund-level crisis becomes a broader financial-stability event.
Sentiment IndicatorsⓘProprietary · adalytica.com · September 20, 2026
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Ziraat’s Turkey bank and BIST 30 ETFs drew 4.05 billion lira, or about $83 million, in net inflows on Thursday, the biggest single-day intake since April 2025. That surge helped lift banking shares 8.9%, showing how quickly state-backed demand can change pricing in a market that has been under pressure since August.
The intervention follows a turbulent week in which several high-profile investment funds said they could not meet investor redemption requests. Regulators have tightened rules on funds with concentrated positions in low-free-float stocks, forcing some portfolio managers to unwind bets and adding to the selling.
Turkey’s Capital Markets Board also moved to liquidate 131 investment funds and halted trading in funds run by seven portfolio management firms after investors withdrew nearly $1 billion in a single day. The central bank, meanwhile, increased weekly repo funding to 300 billion lira and raised interbank borrowing limits tenfold, underscoring the scale of the official response.
For investors, the key question is whether the sovereign fund’s buying marks a one-off stabilizer or the start of a broader backstop for Turkish equities if volatility persists. Borsa Istanbul has already shown how quickly sentiment can reverse, and further official support could determine whether banks and large-cap shares recover or remain trapped in another wave of forced selling.
| Entity | Gains | Losses |
|---|---|---|
| Turkey Wealth Fund / Ziraat ETFs | ▲Market stabilization influence | ▼Capital risk if selling resumes |
| Borsa Istanbul banks and BIST 30 | ▲Price support, inflows | ▼Less downside for shorts |
| Fund managers with concentrated positions | ▲Liquidity backstop | ▼Forced deleveraging, redemptions |
| Retail and institutional investors | ▲Reduced immediate panic | ▼Ongoing volatility, uncertain exit terms |
