Istanbul, Feb 22, 2026, 11:46 TRT — Market closed.
- The BIST 100 ended Friday at 13,934.06, clawing back ground after a sharp prior-day drop.
- Banks led the bounce, but fresh survey data showed mixed signals from the real economy.
- Traders head into Monday watching the lira, oil and Thursday’s central bank reserves update.
The BIST 100 index closed on Friday up 0.94% at 13,934.06, leaving it just shy of the 14,000 mark heading into Monday’s reopen. (Reuters)
That near-miss matters because 14,000 has turned into a round-number line traders talk about even when they swear they don’t do “levels”. The banking sub-index rose 1.85% on Friday after Thursday’s selloff, putting lenders back in the driver’s seat for early-week direction. (Borsa İstanbul)
The Turkish lira was little changed into the weekend by recent standards, last around 43.82 per dollar based on Friday’s close, keeping the currency from becoming the main story again. For equities, that kind of calm tends to shift attention back to rates, earnings and flows. (Yahoo Finance)
Data on Friday did not give investors a clean “risk-on” or “risk-off” signal. The central bank’s survey showed capacity utilisation — a gauge of how much of factories’ potential output is being used — slipped to 73.5% in February from 74.1% in January. (Hürriyet Daily News)
At the same time, business mood in manufacturing improved. The Real Sector Confidence Index rose 2.5 points to 104.1 in February, the central bank survey showed, a level that points to more firms reporting optimism than pessimism. (Hürriyet Daily News)
Energy is the other moving part investors are wary of. Brent crude settled at $71.76 a barrel on Friday and posted a weekly gain of more than 5% as U.S.-Iran tensions kept a geopolitical risk premium in prices, a backdrop that can complicate inflation and funding for oil-importing economies like Turkey. (Reuters)
Overseas, the mood in global markets has been choppy rather than panicked. U.S. stocks ended higher on Friday after a Supreme Court ruling struck down President Donald Trump’s global tariffs, while investors also digested mixed U.S. growth and inflation signals. (Reuters)
The first fixed point on the local calendar next week is Thursday. Trading Economics’ calendar shows Turkey’s next foreign exchange reserves update is due on Feb. 26, a weekly release that traders use as a quick read on external buffers and, by extension, pressure points for the lira. (Trading Economics)
Volatility is still close to the surface. The BIST 100 dropped 3.20% on Thursday before Friday’s rebound, underscoring how quickly positioning can flip when banks and heavyweight industrials start moving together. (Investing.com)
But there is a downside script that does not need much imagination. Factory utilisation is already sliding, and another leg higher in oil — or a stronger dollar — can revive inflation worries, lift funding costs and pull the market back into profit-taking. (TradingView)
For traders, the early-week question is simple: do banks extend Friday’s bounce, or do they fade again as investors reassess growth signals and global risk. The broader index has done plenty of running this year; it does not need much of a shove, either way.
