The BIST 100 index in Borsa Istanbul started the day with a 0.47% decline at 9,567.76 points.

At the opening, the BIST 100 index dropped by 45.07 points and 0.47% to 9,567.76 points compared to the previous closing.

While the banking index lost 0.80%, the holding index gained 0.02%.

Among sector indices, the forest paper printing sector saw the highest gain with 0.61%, while the chemicals petroleum plastics sector suffered the most loss with 2.39%.

In the domestic market, the BIST 100 index ended the day at 9,612.84 points with a 0.38% decline after following a selling-dominated trend in Borsa Istanbul yesterday.

Global markets followed a negative trend as concerns grew about escalating trade wars ahead of tariff decisions to be announced in the U.S. next week, with today’s focus on the personal consumption expenditure data release in the U.S.

Furthermore, a summary was released yesterday regarding the Monetary Policy Committee meeting of the Central Bank of the Republic of Turkey (CBRT) on March 20. The summary stated, “Proactive measures have been taken to limit the upward risks on the inflation outlook by reducing the volatility in financial asset prices.”

Additionally, the summary mentioned that a tighter monetary policy stance would be implemented in case of a significant and lasting deterioration in inflation.

Analysts mentioned that the economic confidence index domestically and personal consumption expenditures (PCE), the University of Michigan consumer confidence index in the U.S., growth in the U.K., and the unemployment rate in Germany would be monitored internationally today. From a technical standpoint, they noted that the support levels for the BIST 100 index are at 9,500 and 9,400 points, with resistance levels at 9,650 and 9,750 levels.