The BIST 100 index on Borsa Istanbul reached an all-time high of 8,851.91 points in the first half of the day. As of 13:00, it recorded a value gain of 9.89 points and 0.11% compared to the previous close, reaching 8,786.58. The total transaction volume amounted to 50.9 billion Turkish liras.
While the banking index lost 0.14% in value, the holding index gained 0.64%. Among the sector indices, technology had the highest gain with 4.56%, while securities investment trust suffered the most with a 1.01% loss.
Analysts noted that global equity markets experienced a sales-oriented trend due to concerns that signals of the continued strength of the U.S. economy would delay interest rate cuts by the U.S. Federal Reserve. They also mentioned that China’s announcement of supporting equity markets tempered risk perceptions in Asia.
In the afternoon, analysts highlighted the monitoring of the real effective exchange rate domestically and the quiet data agenda internationally. From a technical perspective, they pointed out that 8,900 is a resistance level for the BIST 100 index, while 8,700 and 8,600 points serve as support.
source: aa.com.tr / prepared by Melisa Beğiç