ISTANBUL (AA) – The BIST 100 index at Borsa Istanbul started the day with a 0.83 percent increase at 10,832.87 points. At the opening, the BIST 100 index increased by 89.57 points and 0.83 percent compared to the previous close, reaching 10,832.87 points. The banking index increased by 1.28 percent and the holding index increased by 0.69 percent. While the biggest gainer among sector indexes was banking, the only loser was securities investment trust with 0.38 percent. The BIST 100 index at Borsa Istanbul, which followed a bearish course yesterday, closed the day with a 0.49 percent decrease at 10,743.30 points.
Market Analysis and Expectations
Analysts,In global stock markets, a positive trend was observed led by the technology sector after the statements of US Federal Reserve (Fed) Chairman Jerome Powell strengthened expectations that the bank could start reducing interest rates towards the end of the year. Analysts, who stated that all eyes are on inflation data in the US today, drew attention to Powell’s views on inflation, who answered questions from members of the US House of Representatives Financial Services Committee on the second day of his presentation of the semiannual Monetary Policy Report to the US Congress.
- Powell, in the US House of Representatives, stated that inflation is on a downward trend, but that he is not yet sure that it will fall to a sustainable level of 2%.
- It is stated that Treasury and Finance Minister Mehmet Şimşek will attend the JP Morgan investor meeting today and the news flow from this meeting may have an impact on asset prices.
- Intense agenda items such as domestic retail sales, weekly money and banking statistics, and inflation data in the US will also be followed.
Technical Analysis and Support Resistance Levels
From a technical perspective, it is stated that 10,900 and 11,000 points are resistance in the BIST 100 index, while 10,800 and 10,700 levels are support.
