On Tuesday, November 19, the Istanbul Stock Exchange (BIST) experienced a session dominated by selling pressure. The BIST100 Index declined by 1.73%, closing at 9,232.90 points. Among the notable developments of the day was the sharp drop in Turkish Airlines (THYAO) shares, which underperformed the index with a 3.38% loss, closing at 279.00 TL.
Bank of America Leads High-Volume Selling in THYAO
A key driver of the day’s trading activity was Bank of America, which executed high-volume trades in THYAO shares. The institution facilitated a total of 6,572,874 lots, with 2,389,964 lots purchased and 4,182,910 lots sold, resulting in a net sale of 1,792,946 lots.
The average transaction price for these sales was 281.778 TL, with the net monetary value of the transactions amounting to a staggering -505,211,942 TL. Bank of America accounted for 44% of the day’s net sales in THYAO, taking a leading role in the downward pressure on the stock.
Support from İş Yatırım and QNB Yatırım
On the buying side, İş Yatırım and QNB Yatırım emerged as the most active participants. İş Yatırım led the buyers with 1,233,440 lots, followed by QNB Yatırım with 647,507 lots. These purchases provided some support to the stock amid the heavy selling pressure.
Broader Market Sentiment
The selling pressure was not limited to THYAO. The BIST100 Index saw widespread declines, reflecting concerns about reduced global risk appetite and domestic uncertainties. The banking and aviation sectors were particularly impacted, exacerbating the overall market downturn.
Market participants attributed the bearish sentiment to both external global factors and internal challenges, with analysts closely monitoring developments that could influence the market’s direction in the coming days.
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