Bank of America sells 5.3bn TL of Turkish stocks, Akbank top pick

On May 12 the BIST 100 index slipped 2.3% to 14,449 points as total daily turnover reached 223 billion TL. The electricity sector rose 0.74%, while communications fell 5.21%.

Bank of America (BofA) customers recorded a net sell‑off of 5.3 billion TL. The biggest single sale was Akbank (AKBNK) with 848.5 million TL, pushing the stock down 4% to 72.7 TL. Other heavily sold stocks included İş Bank (ISCTR) – 555.7 million TL, Yapı ve Kredi Bank (YKBNK) – 433.5 million TL, and several REITs and airlines.

In the same session Destek Finans Factoring (DSTKF) opened at 2,502.50 TL, peaked at 2,507.50 TL, fell to a low of 2,397.00 TL and closed at 2,423.00 TL, a decline of about 3.9% volatility. The share’s daily volume was 3.33 billion TL (1.38 million lots). Over the past five days the price ranged between 2,423 TL and 2,775 TL. Technical averages stand at 2,496.68 TL (20‑day) and 2,087.77 TL (52‑day), with short‑term support around 2.31 TL and resistance near 2.66 TL.