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Türkiye’s benchmark BIST 100 index closed the week at 14,367.60 points on Friday, retreating from record highs reached the previous week after briefly climbing above the 15,000 mark for the first time, as rising oil prices fueled concerns over inflation and monetary policy.
The index fell 1.9% on the day and finished the week 4.6% below the previous close after fluctuating between 14,265.67 and 15,204.92 points during trading. Earlier gains had briefly pushed the benchmark above the 15,000 level for the first time.
Only 11 stocks on the BIST 100 ended higher, while 86 closed in negative territory compared with the previous session.
Losses spread across all main sectors, with the services index falling 2.3%, financials down 2%, industrials off 1.3% and technology slipping 0.5%. Mining, leasing and sports were the only sub-indices to post gains by the close.
The banking index dropped 2.60%, while holdings declined 1.92%. Communication stocks led the losses among sectors, falling 4.10%.
The BIST 100’s total market capitalization stood at roughly ₺13.9 trillion ($306.2 billion), while daily trading volume reached ₺169 billion ($3.7 billion).
The downturn came as oil prices climbed on continued uncertainty surrounding negotiations between the United States and Iran, raising concerns over supply flows through the Strait of Hormuz.
Brent crude rose 3.6% to $109.6 per barrel, while U.S. benchmark WTI crude increased 4.5% to $105.7.
Meanwhile, talks between U.S. President Donald Trump and Chinese President Xi Jinping ended without the concrete agreement markets had expected, although both leaders stressed the need to reopen the Strait of Hormuz and pursue diplomacy over Iran’s nuclear program.
Higher energy costs remain one of the main drivers of inflation in Türkiye, affecting a wide range of sectors across the economy.
In its latest inflation report released this week, the Central Bank of the Republic of Türkiye (CBRT) raised its year-end inflation forecast to 26% from 18% and signaled it would maintain a tight monetary stance, reducing expectations for renewed rate cuts.
Türkiye’s annual inflation rate reached 32.4% in April, while the central bank kept its policy rate unchanged at 37% and continued funding markets through its overnight lending rate of 40%.
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