Critical Turning Point for Borsa Istanbul: Geopolitical Risks, Index Engineering, and a 180-Company IPO Queue

Impact of Geopolitical Risks on Markets The rising risk perception in global markets due to escalating tensions between the US and Iran continues to put pressure on Borsa Istanbul.
News flow originating from the Pentagon and regional uncertainties are driving investors toward safe havens, leading to fluctuations in local indices.
Index Engineering and Sectoral Divergence While efforts for rational pricing have been observed in Borsa Istanbul recently, a significant divergence at the index level is drawing attention.
"Index engineering" activities carried out through high-weight stocks manage to keep the main index at certain levels, while sharp sell-offs can occur in many stocks within the financial and industrial sectors.
Experts emphasize that investors should focus not only on general index figures but also on the performance of sub-sectors and non-index stocks.
Technical Levels and 2026 Projection Critical technical levels monitored in the market point to 14,000, 13,750, and 13,500 points as support in case of potential pullbacks.
On the upside, the 14,400 and 14,700 levels stand out as strong resistance points.
Unless a major global crisis occurs, general expectations for 2026 remain positive for the stock market.
IPO Queue and Liquidity Balance More than 180 companies awaiting approval from the Capital Markets Board (SPK) are straining the supply-demand balance in the market.
This demand is considered quite high compared to the approximately 600 companies currently traded.
While the SPK's efforts to manage the offering process according to market conditions are welcomed, conducting numerous IPOs within a limited fund pool carries the risk of weakening liquidity in existing stocks.
Increasing domestic and foreign capital inflows is of critical importance for the deepening of the market.