• Home
  • Money
  • Stock market closed the day on a rise
Money

Stock market closed the day on a rise

1 Mins Read

The BIST 100 index in Borsa Istanbul completed the day with a 1.85% gain at 8,860.30 points. Compared to the previous closing, the BIST 100 index saw an increase of 161.11 points with a total trading volume of 85.2 billion Turkish lira. The banking index rose by 1.81% while the holding index gained 2.39%. Among the sector indices, transportation had the highest increase at 3.90%, while insurance was the only sector to experience a decrease with 0.72%. Globally, there is a positive trend in the market due to strong expectations of a “soft landing” for the economy in the US. Optimism persists regarding the decline of inflation to the targeted level in the US, with upcoming data releases and financial results of companies expected to influence market direction during the week ahead. Analysts highlighted that tomorrow the housing price index domestically, and statements from the President of the European Central Bank (ECB) Christine Lagarde, inflation in the UK, and machinery orders in Japan internationally will be closely monitored. From a technical standpoint, the resistance levels for the BIST 100 index are 8,900 and 9,000, while the support levels are at 8,700 and 8,490 points.

Comments are closed

Related News