Business

Stock market started the day with a record

BIST 100 index in Borsa Istanbul started the day at an all-time high with 2,524.02 points, gaining 0.55% value. BIST 100, which decreased consecutively, albeit limitedly, in the last days of March, completed 13 of the last 15 trading days with rising in the upward trend it started from 2,180 points. In this process, the rate of increase in BIST 100 was 16%.

The BIST 100 index increased by 13.71 points and 0.55% compared to the previous close, reaching an all-time high with 2,524.02 points.

The banking index increased by 0.65% and the holding index increased by 0.55%. While all sector indices started the day with an increase, tourism was the highest earner with 0.94%.

BIST 100 index broke the closing record with 2,510.31 points, gaining 0.84% yesterday.

Analysts said that the risk appetite in global stock markets remained low due to the increasingly hawkish direction of the US Federal Reserve (Fed) officials, the re-intensifying conflicts in the Russia-Ukraine war, and the ongoing concerns about the new type of corona virus outbreak in China.

Pointing out that the domestic stock markets are positively differentiated, analysts stated that housing starts and construction permits to be announced in the USA came to the fore in today’s data calendar.

Analysts stated that the verbal guidance of the Fed officials, the International Monetary Fund (IMF) meetings and the news flow on the Russia-Ukraine war are also in the focus of investors, and stated that, technically, the BIST 100 index will follow the level of 2.550 as resistance and 2.440 points as support.

Source: NTV / Translated by Irem Yildiz

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