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Stock market ended the day with a decline

October 31, 20242 Mins Read

The BIST 100 index in Borsa Istanbul closed the day at 8,863.88 points with a decrease of 1.58%. The total trading volume of the index decreased by 142.67 points compared to the previous closing, recorded at 66.4 billion Turkish lira. While the banking index lost 1.56% and the holding index decreased by 1.33%, the insurance sector was the highest gainer among sector indices with an increase of 1.08%. On the other hand, the trade sector stood out as the most losing sector with a decrease of 3.02%. Globally, there is a negative trend observed in the markets due to political uncertainties related to the upcoming US presidential elections and the employment report to be announced tomorrow. Analysts expect the employment data to provide clearer signals about the direction of the US economy, emphasizing that these figures could have a significant impact on stock markets. Additionally, due to the earnings season, it is highlighted that volatility may increase on a stock and sector basis. Analysts express that tomorrow, evaluations on Turkey by Standard & Poor’s (S&P), the Purchasing Managers’ Index (PMI) of the manufacturing industry, as well as the employment report in the US, China, and construction expenditures will be crucial. From a technical perspective, support levels for the BIST 100 index are monitored at 8,800 and 8,700 levels, while resistance points are at 9,100 and 9,200 points.

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