IstanbulMarkets

Borsa Istanbul (BIST) Stock Exchange Opens with Positive Momentum

The stock market in Istanbul kicked off the day with a 0.99% rise as the BIST 100 index opened at 8,104.04 points.

At the opening bell, the BIST 100 index surged by 79.67 points, marking a 0.99% gain compared to the previous close, reaching a level of 8,104.04 points.

The banking index recorded a 2.13% increase, while the holding index saw a 0.79% uptick. Among sector indices, banking emerged as the top gainer, whereas the only decliner was the securities investment partnership with a 0.06% loss.

In a volatile session yesterday, the BIST 100 index concluded the day with a 0.10% loss, settling at 8,024.37 points on the Istanbul Stock Exchange.

Analysts noted a negative trend in global equity markets due to diminishing expectations of interest rate cuts by the United States Federal Reserve in March. They emphasized that today’s intensive data agenda has become the focus of investors.

Analysts also highlighted that data released in the United States since the beginning of the year has supported inflation, indicating that the Federal Reserve is likely not to rush into interest rate cuts.

Moreover, following Moody’s upward revision of Turkey’s credit rating outlook, the credit rating outlooks of 17 Turkish banks were also upgraded from “stable” to “positive.”

Looking ahead, analysts pointed out that today’s domestic agenda includes short-term debt stock, weekly monetary and banking statistics, while internationally, the speech of European Central Bank (ECB) President Christine Lagarde, along with a dense global data agenda, will be closely monitored. From a technical standpoint, they identified 8,150 and 8,200 levels as resistance, with 8,000 and 7,900 points serving as support for the BIST 100 index.

source: aa.com.tr / prepared by Melisa Beğiç

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