In Borsa Istanbul, BIST 100 index rose by 0.09% today, closing at 9,757.16 points as trading volumes reached ₺66.1 billion.
Borsa Istanbul wrapped up the trading day on a positive note as the BIST 100 index edged up by 0.09%, closing at 9,757.16 points. This marks an 8.41-point increase from the previous session, with the total trading volume reaching ₺66.1 billion.
Sector Performance Highlights
While the overall market saw gains, sector performances were mixed:
- Banking Sector:
The banking index faced a decline of 0.96%, pulling back from earlier levels as investor sentiment shifted amid mixed global cues. - Holding Sector:
On the other hand, the holding index registered a modest gain of 0.27%, supported by selective buying in key holding companies. - Top Performers:
The construction sector led the gains, rising by 2.59%. This sector’s outperformance was driven by renewed interest in infrastructure projects and positive sentiment towards future developments. - Biggest Losers:
The worst-performing sector was securities investment trusts, which fell by 1.32%, as some investors opted to book profits.
Global Market Influence
Global equity markets are experiencing uncertainty ahead of critical macroeconomic data releases from the United States. Analysts point out that markets are awaiting the earnings report from Nvidia, a key player in the chip industry, which could influence broader market sentiment. Additionally, upcoming U.S. growth figures and personal consumption expenditure data for the second quarter are expected to play a significant role in determining market direction.
Borsa Istanbul’s Holiday Adjustment
In light of Turkiye’s Victory Day holiday on August 30, which falls on a Friday, Borsa Istanbul has announced changes to the settlement dates for this week’s transactions. Specifically:
- Today’s Transactions:
Settlements for trades executed today will be processed on Monday, September 2. - Thursday’s Transactions:
Trades executed on Thursday, August 29, will be settled on Tuesday, September 3.
Key Data Releases to Watch
Analysts are closely monitoring several economic indicators set to be released tomorrow, both domestically and internationally:
- Domestic:
- Commercial Property Price Index
- Economic Confidence Index
- Weekly Money and Banking Statistics
- International:
- Eurozone Consumer Confidence Index
- Eurozone Economic Confidence Index
- German Inflation Data
- U.S. Growth Data
- U.S. Personal Consumption Expenditures (Q2)
- U.S. Jobless Claims
- U.S. Wholesale Inventories
- U.S. Pending Home Sales
Technical Outlook
From a technical perspective, the BIST 100 index is testing key resistance levels:
- Resistance Levels:
The index is facing resistance at 9,850 and 10,000 points. - Support Levels:
Support is seen at 9,650 and 9,500 points, which could provide a cushion against potential sell-offs.
As the market navigates these technical levels, traders are advised to stay alert to both domestic and global developments that could impact sentiment and market direction.
Source: AA / Prepared by Irem Yildiz