Business

Borsa Istanbul: The stock market closed the day with an increase

BIST 100 index in Borsa Istanbul closed the day at 2,230.15 points with a 1.07% gain.

While the BIST 100 index increased by 23.65 points compared to the previous close, the total transaction volume stood at ₺33.9 billion.

The banking index gained 1.58% and the holding index gained 1.16%. Among the sector indices, financial leasing and factoring gained the most with 4.15%, and tourism with 3.19% declined the most.

European Central Bank (ECB) President Christine Lagarde stated that if the Russia-Ukraine war lasts for a long time, the economic cost will be high, “Europe is entering a difficult period. In the short term, we will face higher inflation and slower economic growth.”

Analysts said that the risk appetite in the markets decreased again and that the progress made in the negotiations on the Russia-Ukraine war was overshadowed as investors started to reevaluate the inflation outlook and monetary policy tightening.

Stating that weekly money and bank statistics and foreign trade balance in the country, personal income and expenditures in the USA and weekly unemployment benefits abroad, growth in the UK and industrial production in Japan will come to the fore, analysts noted that technically, the BIST 100 index 2.150 and 2.130 levels are support and 2.300 points are resistance.

Source: Sabah / Translated by Irem Yildiz

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