Istanbul, Feb 21, 2026, 11:56 TRT — Markets are shut.
BIST 100 bounced back 0.94% to close at 13,934.06 on Friday, recouping some ground after Thursday’s steep drop. The benchmark touched a 52-week high at 14,532.67 just two days earlier, but still logged a weekly loss of roughly 1.7%.
That late-week rebound helped calm nerves, but the rates-versus-prices debate still runs hot in Turkish markets. Traders jump on rallies, then waste no time locking in profits when the lira stumbles or inflation talk heats up.
Inflation talk is picking up ahead of Ramadan, with the government zeroing in on food costs. Trade Minister Omer Bolat said inspectors are “on the ground” to crack down on hoarding and what he called “exorbitant pricing practices.” Officials have stepped up checks and are tightening controls. Financial Times
Leasing, factoring, and tech stocks drove Friday’s advance, according to Investing.com. Destek Finans Faktoring soared 9.16%. The dollar traded at 43.84 lira, up 0.20% at the session’s end.
The previous day, the market tumbled 3.20% as losses hit holdings, investment firms, insurers, and banks, data from the same provider showed. Decliners heavily outnumbered gainers. USD/TRY edged up 0.07% to 43.77.
Borsa Istanbul kicked off trading for Ata Turizm on Thursday, following the tourism company’s IPO. CEO Korkmaz Ergun said proceeds from the offering are earmarked for operational investments, with the goal of building “a more robust financial structure.” Borsa İstanbul
Inflation is still the key variable. Earlier this month, the central bank lifted its end-2026 inflation forecast range to 15%-21%. Annual inflation, though, eased to 30.65% in January, with the policy rate at 37% following a rate cut in January, according to Reuters.
Still, Friday’s rebound leaves questions hanging over the coming week. Should the lira weaken more sharply or food prices jump again, margins could get tighter, and traders might have to price in a slower rate-cutting cycle. Banks, as usual, would likely feel the pressure first.
Turkey’s February inflation numbers are set for release on March 3, according to the Treasury and Finance Ministry. After that, the central bank’s MPC meets March 12.
