Turkey: Stock market closed the day with record closing

The BIST 100 index gained 1.05%, closing its all-time high with 1,755.48 points.

In Borsa Istanbul, the BIST 100 index gained 1.05%, closing the highest of all time with 1,755.48 points. While the BIST 100 index increased by 18.16 points compared to the previous close, the total transaction volume stood at ₺24.2 billion.

While the banking index depreciated by 0.54%, the holding index gained 0.57%. Among the sector indices, forest, paper and printing had the highest gains with 4.11%, while the most declining was communication with 1.03%.

The BIST 100 index, which followed a positive course throughout the day, completed the day with a 1.05% gain in value, bringing the closing record to 1,755.48 points. Analysts said US President Joe Biden will nominate Jerome Powell to a second term as Fed Chairman. They stated that despite the increasing optimism in the markets, the effects of the new type of coronavirus restrictions implemented in Europe and the concerns that the Fed may abandon the supportive monetary policies earlier than expected continue in the global stock markets.

Stating that the data agenda is calm in the country tomorrow, and the data agenda will be followed, especially the manufacturing industry and service sector Purchasing Managers Index (PMI), which will be announced worldwide, analysts said that technically, the level of 1.780 in the BIST 100 index is in the position of resistance and the level of 1.700 points in the support position.

Source: Sabah / Translated by Irem Yildiz

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