Borsa Istanbul plunges 5.54% as fund payment defaults hit Turkish markets

September 17, 2026 at 01:09 AM2 min

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Borsa Istanbul's BIST 100 index fell 5.54% on September 16, 2026, as fund payment defaults deepened a sell-off. Circuit breakers were triggered during the session. Finance Minister Mehmet Simsek called an emergency Financial Stability Committee meeting for September 17.

Key Facts

BIST 100 index closed down 5.54% on September 16, 2026, after falling more than 6% intraday.
Pusula Portföy announced a default on redemption payments for some of its investment funds.
Atlas Portföy Serbest Fon changed its unit share value calculation to monthly and redemption payments to the fifth business day after valuation.
Hedef Holding Chairman Namık Kemal Gökalp was detained and police inspected İnfo Yatırım.
Finance Minister Mehmet Şimşek will chair a Financial Stability Committee meeting on September 17, 2026 at 08:00.

Market Sell-off

Borsa Istanbul's BIST 100 index fell 5.54% on September 16, 2026, after intraday losses exceeded 6%. Circuit breakers were triggered during the session as selling pressure intensified. The decline followed fund payment defaults and redemption requests from investors. Financial Times reported that some local funds had built concentrated positions in low free-float stocks, increasing market fragility.

Fund Payment Defaults

Pusula Portföy announced a default on redemption payments for some of its investment funds. The company said in a regulatory filing that it was continuing reconciliation with brokerage firms and liquidity management. Atlas Portföy Serbest Fon revised its unit share value calculation to monthly and redemption payments to the fifth business day after valuation. Investor exit requests from funds increased selling pressure on equities.

Regulatory Response

Finance Minister Mehmet Şimşek will chair a Financial Stability Committee meeting on September 17, 2026 at 08:00. The meeting agenda will cover recent developments in financial markets. Şimşek said the non-bank financial sector needs more regulation and supervision. MSCI had previously warned about possible coordinated trading between fund assets and low free-float company shares. Hedef Holding Chairman Namık Kemal Gökalp was detained and police inspected İnfo Yatırım.