Index changes
Participation index changes: October 2026 period
For the period from October 1, 2026 to April 30, 2027, Borsa Istanbul added 24 shares to the BIST Participation All Shares index and removed 33. The announcement was published on KAP on September 29, 2026 at 23:00 Istanbul time (disclosure 1669816).
Dated October 17, 2026No. SGL-2026-10-CHANGES
Changes by index
The numbers are counted from the lists in Borsa Istanbul's period announcement. Reserve shares are chosen to replace a share removed from an index during the period, and they are announced with the period changes (Ground Rules 7.2.f).
| Index | Added | Removed | Reserve |
|---|---|---|---|
| BIST Participation All Shares | 24 | 33 | - |
| BIST Participation 30 | 13 | 13 | 5 |
| BIST Participation 50 | 24 | 24 | 5 |
| BIST Participation 100 | 34 | 34 | 5 |
| BIST Participation Dividend | 5 | 3 | - |
| BIST Participation Sustainability | 4 | 2 | - |
Companies added
Shares added to the BIST Participation All Shares index from October 1, 2026. The ratios come from the company's participation finance information form (KAFİF) on KAP.
| Company | Ratios in the KAFİF declaration | Declaration period and source |
|---|---|---|
| AKCNSAkçansa | Excluded income 4.55% · interest-bearing assets 9.30% · interest-bearing loans 8.82% | Declaration for the first half of 2026 · KAP form AKCNS |
| AKFISAkfen İnşaat | Excluded income 1.49% · interest-bearing assets 1.86% · interest-bearing loans 31.41% | Declaration for the first half of 2026 · KAP form AKFIS |
| AKYHOAkdeniz Yatırım Holding | Excluded income 2.55% · interest-bearing assets 0.37% · interest-bearing loans 2.04% | Declaration for the first half of 2026 · KAP form AKYHO |
| AYDEMAydem Enerji | Excluded income 4.00% · interest-bearing assets 2.89% · interest-bearing loans 31.45% | Declaration for the first half of 2026 · KAP form AYDEM |
| BANVTBanvit | Excluded income 4.64% · interest-bearing assets 15.45% · interest-bearing loans 17.31% | Declaration for the first half of 2026 · KAP form BANVT |
| BLUMEBlume Metal Kimya | Excluded income 0.76% · interest-bearing assets 5.24% · interest-bearing loans 3.87% | Declaration for the first half of 2026 · KAP form BLUME |
| EGEGYEgeyapı Avrupa GYO | Excluded income 0.04% · interest-bearing assets 1.04% · interest-bearing loans 10.00% | Declaration for the first half of 2026 · KAP form EGEGY |
| EKOSEkos Teknoloji | Excluded income 1.61% · interest-bearing assets 3.91% · interest-bearing loans 14.46% | Declaration for the first half of 2026 · KAP form EKOS |
| ENERYEnerya Enerji | Excluded income 4.52% · interest-bearing assets 3.06% · interest-bearing loans 0.00% | Declaration for the first half of 2026 · KAP form ENERY |
| ESENEsenboğa Elektrik | Excluded income 2.11% · interest-bearing assets 12.93% · interest-bearing loans 26.63% | Declaration for the first half of 2026 · KAP form ESEN |
| FRIGOFrigo-Pak Gıda | Excluded income 1.22% · interest-bearing assets 0.00% · interest-bearing loans 8.82% | Declaration for the first half of 2026 · KAP form FRIGO |
| ISSENİşbir Sentetik Dokuma | Excluded income 1.04% · interest-bearing assets 0.66% · interest-bearing loans 31.38% | Declaration for the first half of 2026 · KAP form ISSEN |
| KFEINKafein Yazılım | Excluded income 4.27% · interest-bearing assets 5.20% · interest-bearing loans 0.03% | Declaration for the first half of 2026 · KAP form KFEIN |
| KGYOKoray GYO | Excluded income 2.02% · interest-bearing assets 0.36% · interest-bearing loans 14.59% | Declaration for the first half of 2026 · KAP form KGYO |
| LINKLink Bilgisayar | Excluded income 4.86% · interest-bearing assets 25.99% · interest-bearing loans 0.00% | Declaration for the first half of 2026 · KAP form LINK |
| MOGANMogan Enerji | Excluded income 4.08% · interest-bearing assets 1.32% · interest-bearing loans 20.31% | Declaration for the first half of 2026 · KAP form MOGAN |
| NATENNaturel Enerji | Excluded income 3.56% · interest-bearing assets 12.54% · interest-bearing loans 26.04% | Declaration for the first half of 2026 · KAP form NATEN |
| PNLSNPanelsan Çatı Cephe | Excluded income 3.77% · interest-bearing assets 5.47% · interest-bearing loans 5.15% | Declaration for the first half of 2026 · KAP form PNLSN |
| REEDRReeder Teknoloji | Excluded income 3.64% · interest-bearing assets 0.07% · interest-bearing loans 4.44% | Declaration for the first half of 2026 · KAP form REEDR |
| SEGMNSeğmen Kardeşler Gıda | Excluded income 2.52% · interest-bearing assets 4.51% · interest-bearing loans 0.49% | Declaration for the first half of 2026 · KAP form SEGMN |
| SMRTGSmart Güneş Enerjisi Teknolojileri | Excluded income 3.94% · interest-bearing assets 1.01% · interest-bearing loans 32.37% | Declaration for the first half of 2026 · KAP form SMRTG |
| TCKRCKıraç Galvaniz | Excluded income 4.98% · interest-bearing assets 1.77% · interest-bearing loans 11.06% | Declaration for the first half of 2026 · KAP form TCKRC |
| TGSASTGS Dış Ticaret | Excluded income 4.94% · interest-bearing assets 0.04% · interest-bearing loans 0.00% | Declaration for the first half of 2026 · KAP form TGSAS |
| VBTYZVBT Yazılım | Excluded income 1.81% · interest-bearing assets 0.10% · interest-bearing loans 26.13% | Declaration for the first half of 2026 · KAP form VBTYZ |
Companies removed
Shares removed from the BIST Participation All Shares index from October 1, 2026.
Borsa Istanbul does not give the reason for a removal in its announcement. The table shows what the company's public declaration shows.
| Company | What the declaration shows |
|---|---|
| AAGYOAğaoğlu Avrasya GYO | In the declaration for the first half of 2026: excluded income 29.28%, threshold 5%. KAP form AAGYO |
| AHSGYAHES GYO | In the declaration for the first half of 2026: excluded income 18.36%, threshold 5%. KAP form AHSGY |
| ALFASAlfa Solar Enerji | In the declaration for the first half of 2026: excluded income 8.41%, threshold 5%. KAP form ALFAS |
| ALKLCAltınkılıç Gıda ve Süt | In the declaration for the first half of 2026: interest-bearing loans 39.55%, threshold 33%. KAP form ALKLC |
| ARFYEARF Bio Yenilenebilir Enerji Üretim | In the declaration for the first half of 2026: excluded income 37.57%, threshold 5%. KAP form ARFYE |
| AYENAyen Enerji | In the declaration for the first half of 2026: excluded income 6.38%, threshold 5%. KAP form AYEN |
| BESTEBest Brands Grup Enerji Yatırım | In the declaration for the first half of 2026: excluded income 28.62%, threshold 5%. KAP form BESTE |
| BSOKEBatısöke Söke Çimento Sanayii | The declaration for the first half of 2026 did not appear on KAP by the deadline of September 24, 2026. |
| CANTEÇan2 Termik | In the declaration for the first half of 2026: excluded income 10.46%, threshold 5%. KAP form CANTE |
| CEMZYCem Zeytin | In the declaration for the first half of 2026: excluded income 13.69%, threshold 5%. KAP form CEMZY |
| DENGEDenge Yatırım Holding | In the declaration for the first half of 2026: interest-bearing loans 61.21%, threshold 33%. KAP form DENGE |
| DOGUBDoğusan Boru | In the declaration for the first half of 2026: excluded income 8.88%, threshold 5%. KAP form DOGUB |
| GENKMGentaş Kimya Sanayi ve Ticaret Pazarlama | In the declaration for the first half of 2026: excluded income 5.64%, threshold 5%. KAP form GENKM |
| GENTSGentaş Dekoratif Yüzeyler | In the declaration for the first half of 2026: excluded income 16.27%, threshold 5%. KAP form GENTS |
| GRTHOGraintürk Holding | In the declaration for the first half of 2026: excluded income 9.82%, threshold 5%. KAP form GRTHO |
| GUNDGGündoğdu Gıda Süt Ürünleri | In the declaration for the first half of 2026: excluded income 18.88%, threshold 5%. KAP form GUNDG |
| IDGYOİdealist GYO | In the declaration for the first half of 2026: excluded income 49.17%, threshold 5%. KAP form IDGYO |
| KLSYNKoleksiyon Mobilya Sanayi | In the declaration for the first half of 2026: excluded income 7.49%, threshold 5%. KAP form KLSYN |
| KOPOLKoza Polyester | In the declaration for the first half of 2026: excluded income 8.78%, threshold 5%. KAP form KOPOL |
| MERKOMerko Gıda | In the declaration for the full year 2025: excluded income 8.63%, threshold 5%. KAP form MERKO |
| MOBTLMobiltel İletişim Hizmetleri | In the declaration for the first half of 2026, all three ratios are within the thresholds, but the answer to activity question 1 is YES. KAP form MOBTLForecast outcome note |
| OZATDÖzata Denizcilik | In the declaration for the first half of 2026: excluded income 6.28%, threshold 5%. KAP form OZATD |
| OZGYOÖzderici GYO | In the declaration for the first half of 2026: excluded income 6.05%, threshold 5%. KAP form OZGYO |
| PRKMEPark Elektrik Üretim Madencilik | In the declaration for the first half of 2026: excluded income 28.18%, threshold 5%. KAP form PRKME |
| RALYHRal Yatırım Holding | In the declaration for the first half of 2026: excluded income 14.69%, threshold 5%. KAP form RALYH |
| RGYASRönesans Gayrimenkul Yatırım | In the declaration for the first half of 2026: excluded income 8.81%, threshold 5%. KAP form RGYAS |
| RNPOLRainbow Polikarbonat | In the declaration for the first half of 2026: excluded income 10.10%, threshold 5%. KAP form RNPOL |
| SANELSan-El Mühendislik Elektrik Taahhüt | In the declaration for the first half of 2026: excluded income 12.54%, threshold 5%. KAP form SANEL |
| SUNTKSun Tekstil | In the declaration for the first half of 2026: excluded income 6.46%, threshold 5%. KAP form SUNTK |
| TUKASTukaş Gıda | In the declaration for the first half of 2026: excluded income 6.77%, threshold 5%. KAP form TUKAS |
| UFUKUfuk Yatırım Yönetim ve Gayrimenkul | In the declaration for the first half of 2026: excluded income 100.00%, threshold 5%. KAP form UFUK |
| USAKUşak Seramik Sanayi | In the declaration for the first half of 2026, all three ratios are within the thresholds. KAP form USAKForecast outcome note |
| ZERGYZeray GYO | In the declaration for the first half of 2026: excluded income 35.41%, threshold 5%. KAP form ZERGY |
Changes during the period
Borsa Istanbul also changes the indices through separate disclosures on KAP, outside the period announcement: shares that start trading after a public offering can be added on their first trading day (Ground Rules 6.8.d), and shares moved to the Watchlist Market leave the indices on the same day (Ground Rules 8.1). The changes below were reflected in this period's list or made during the period.
| Company | Effective date | Change |
|---|---|---|
| ALBTNAlbayrak Beton Sanayi | Jul 29, 2026 | Added to the BIST Participation All Shares index. Its shares started trading on Borsa Istanbul's Star Market.KAP disclosure 1637546, Jul 28, 2026 |
| CITASÇitlekçi Mağazacılık Gıda | Aug 18, 2026 | Added to the BIST Participation All Shares index. Its shares started trading on Borsa Istanbul's Star Market.KAP disclosure 1651098, Aug 17, 2026 |
| TKNKATeknika Plastik | Aug 20, 2026 | Added to the BIST Participation All Shares index. Its shares started trading on Borsa Istanbul's Star Market.KAP disclosure 1652497, Aug 19, 2026 |
| KPEKSKapeks Kimya | Aug 21, 2026 | Added to the BIST Participation All Shares index. Its shares started trading on Borsa Istanbul's Star Market.KAP disclosure 1653360, Aug 20, 2026 |
| INTETİntetra Teknoloji | Sep 1, 2026 | Added to the BIST Participation All Shares index. Its shares started trading on Borsa Istanbul's Star Market.KAP disclosure 1656238, Aug 31, 2026 |
| BKRGYBakırcı GYO | Sep 2, 2026 | Added to the BIST Participation All Shares index. Its shares started trading on Borsa Istanbul's Star Market.KAP disclosure 1656782, Sep 1, 2026 |
| ALVESAlves Kablo | Sep 10, 2026 | Removed from the BIST Participation All Shares and BIST Participation 100 indices. Its shares moved to the Watchlist Market.KAP disclosure 1661014, Sep 9, 2026 |
| FORTEForte Bilgi İletişim | Sep 10, 2026 | Added to the BIST Participation 100 index. Reserve share: it took the place of ALVES in the BIST Participation 100 index.KAP disclosure 1661014, Sep 9, 2026 |
| NETGLNet Global Endüstriyel Yatırımlar | Sep 17, 2026 | Added to the BIST Participation All Shares index. Its shares started trading on Borsa Istanbul's Star Market.KAP disclosure 1663800, Sep 16, 2026 |
| GRSELGür-Sel Turizm Taşımacılık | Oct 1, 2026 | Added to the BIST Participation Sustainability index. Borsa Istanbul announced this change in a disclosure separate from the period announcement; the disclosure gives no reason.KAP disclosure 1670560, Sep 30, 2026 |
| MPARKMLP Sağlık | Oct 1, 2026 | Removed from the BIST Participation Sustainability index. Borsa Istanbul announced this change in a disclosure separate from the period announcement; the disclosure gives no reason.KAP disclosure 1670560, Sep 30, 2026 |
| NETASNetaş Telekomünikasyon | Oct 1, 2026 | Added to the BIST Participation Sustainability index. Borsa Istanbul announced this change in a disclosure separate from the period announcement; the disclosure gives no reason.KAP disclosure 1670560, Sep 30, 2026 |
Outcome of Sağlama's forecast
Before this period's list was announced, Sağlama published its forecast for each of the 241 members. The forecast was frozen on September 28, 2026 and was not changed afterward.
Outcome: 238 of 241 forecasts correct, 3 wrong.
Wrong forecasts and their reasons:
- ALVES
Our reading: the forecast used Borsa Istanbul's member list of July 20, 2026 and missed that ALVES left the participation indices on September 10, 2026. Its shares moved to the Watchlist Market that day, and Borsa Istanbul removed them from the participation indices from the same date (KAP 1661014, September 9, 2026). This change during the period was not taken into account when the forecast was published on September 16, 2026 and frozen on September 28, 2026. From now on, the forecast is checked against the member list on the day it is frozen and against the announcements of changes during the period.
- MOBTL
Our reading: on its KAFİF form, the company answered YES to the question on activities in its articles of association that are not in line with participation finance principles. The forecast followed only the three ratios and did not take this answer into account. Later forecasts read all four questions on the form.
- USAK
An index rule outside the three ratios: the company applied for a concordat (a court-supervised debt restructuring) on September 29, 2026, and Borsa Istanbul moved its shares to the Watchlist Market from October 1, 2026. That market is outside the participation index (Ground Rules 6.8.a). This happened after the forecast was frozen on September 28, 2026; the declaration and the measurement were within the threshold.
Next period
The next period (May 2027 to September 2027) starts on May 1, 2027. Borsa Istanbul announces a period's list at least two business days before the period starts (Ground Rules 2.17); for this period, the announcement is expected by April 29, 2027 at the latest.
Sağlama's member-by-member forecast: Review forecast
Sources
- Borsa Istanbul, periodic changes to the BIST participation indices, October 1, 2026 to April 30, 2027 (PDF, English)
- Borsa Istanbul, periodic changes to the BIST participation indices, October 1, 2026 to April 30, 2027 (PDF, Turkish)
- KAP disclosure 1669816, September 29, 2026: the disclosure that published the announcement
Published on October 17, 2026 · Last changed on October 17, 2026
This page reports Borsa Istanbul's announcement and the companies' public declarations. This is not investment advice.