Borsa Istanbul Plunges Over 6% Following CHP Congress Annulment
Istanbul, May 21, 2026 – The Borsa Istanbul BIST 100 Index saw a significant decline of over 6% yesterday, with the banking index suffering an even steeper loss exceeding 8%, in the wake of a ruling by the Ankara Regional Court. The court’s decision to annul two key congresses of the Republican People’s Party (CHP) prompted a rapid sell-off in the market, leading to the activation of the exchange’s circuit breaker system.
Court Annuls CHP Congresses
The Ankara Regional Court 36th Civil Chamber of Appeals ruled on a lawsuit seeking the annulment of the CHP’s 38th Ordinary Congress and 21st Extraordinary Congress. The court issued a “null and void” decision for both congresses, a move that sent immediate ripples through the Turkish financial markets.
Market Reacts Swiftly to the Ruling
Following the court’s announcement, selling pressure intensified on Borsa Istanbul. The BIST 100 Index fell by more than 6%, while the Banking Index plummeted beyond 8%. The rapid depreciation of share values in the stock market led to the triggering of the index-based circuit breaker.
Borsa Istanbul Issues Statement on Trading Halt
In response to the developments, Borsa Istanbul released a statement via the Public Disclosure Platform (KAP), announcing the temporary suspension of trading.
The statement read: “As of 17:42:06, the index-based circuit breaker was triggered, and trading was temporarily halted in all transaction queues in the Equity Market, and in contracts based on Equities and Equity Indices traded in the Futures and Options Market. Trading will resume in the Equity Market with the closing session as of 18:01, and in contracts based on Equities and Equity Indices traded in the Futures and Options Market with continuous trading method as of 18:08. Trading in warrants, certificates, and new share subscription rights in the Equity Market will not resume today. Session flows will continue from where they left off at the end of the EBDK (Index-Based Circuit Breaker) period.”
Earlier in the day, the BIST 100 index had opened with a 0.20% gain at 14,040.06 points but had fallen by 0.80% to 13,899.53 points by the first half of the day.
Source: bigpara.hurriyet.com.tr
