BIST 100 dips as Fed decision looms and geopolitics ease

The BIST 100 index ended Thursday, 28 July, at 13,774.77 points, a decline of 1.21% and a loss of 169.10 points from the prior close. Trading volume reached 180.4 billion lira as banking and holding sector indexes fell, while chemicals, oil and plastics posted the steepest losses.

On Wednesday, 27 July, the index opened higher at 14,028.40 points but slipped to 13,931.69 by midday, later falling into negative territory. Analysts highlighted the upcoming Federal Reserve rate decision on 29 July, expecting the policy rate to stay in the 3.50‑3.75% range. Geopolitical tension between the United States and Iran had eased, lowering oil prices and supporting risk appetite.

Ata Yatırım raised its 12‑month BIST 100 target to 19,600 points, citing a 43% upside from current levels. Technical analysts noted support around 13,600–13,700 points and resistance near 14,000–14,200 points. The market’s direction is seen as tied to U.S. economic data releases later in the week, including wholesale inventories and consumer confidence.