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Stock market ended the day with a decline

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The BIST 100 index in Borsa Istanbul ended the day with a 1.14% loss, closing at 9,665.78 points. Compared to the previous closing, the BIST 100 index decreased by 111.68 points, with a total trading volume of 73.2 billion Turkish lira. The banking index lost 1.13% while the holding index dropped by 1.11%. The metal primary industry and insurance sectors were the top two gaining sector indices with 1.49%, while the sports sector was the biggest loser among sector indices with a decrease of 2.53%. Global markets started the week cautiously as they anticipated a busy macroeconomic data calendar, especially keeping an eye on the employment report from the US. While uncertainties about whether the fight against inflation worldwide will lead to a recession and concerns arising from conflicts in the Middle East persist, recent macroeconomic data releases have helped limit worries in the markets. Analysts mentioned that tomorrow, the Purchasing Managers’ Index (PMI) for the manufacturing industry in Turkey will be followed, along with inflation in the Eurozone, manufacturing PMI in the US and Europe, ISM manufacturing PMI in the US, and construction spending. From a technical standpoint, analysts noted that 9,600 and 9,500 points are support levels while 9,900 and 10,000 levels are resistance levels for the BIST 100 index.

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