Istanbul Stock Exchange
The BIST 100 index on Borsa Istanbul completed the day with a 0.67 percent gain at 11,139.34 points, achieving its highest daily close of all time. The index broke its highest level record at 11,188.12 points. The BIST 100 index increased by 74.49 points compared to the previous close, and the total trading volume was 101.2 billion liras.
Industry Performance
The banking index gained 2.09 percent, the holding index gained 0.60 percent. Among the sector indices, the biggest gainer was the sports sector with 3.64 percent, and the biggest loser was the communications sector with 2.04 percent.
IMF and Turkish Economy
The International Monetary Fund (IMF) raised its growth expectation for the Turkish economy from 3.1 percent to 3.6 percent this year.
Analysis and Expectations
Analysts stated that despite the reluctance of US Federal Reserve (Fed) Chairman Jerome Powell to initiate interest rate cuts, the increasing probability of Donald Trump becoming the US president increased the risk of a resurgence of trade wars and geopolitical risks in global stock markets.
Analysts stated that tomorrow, housing sales in Turkey, Fed Beige Book report abroad, industrial production, housing starts and building permits in the US, inflation data in the Eurozone and the UK will come to the fore, and from a technical perspective, 11,200 and 11,300 points are resistance in the BIST 100 index, while 11,000 and 10,900 are support levels.
