BIST 100 index in Borsa Istanbul closed the day at 2,460.43 points with 0.14% depreciation. While the BIST 100 index decreased by 3.33 points compared to the previous close, the total transaction volume stood at ₺62 billion.
The banking index lost 1.57%, while the holding index lost 1.35%. Among the sector indices, mining was the highest earner with 8.33%, and financial leasing and factoring was the most declining with 5.81%.
BIST 100 index, which saw its all-time high with 2,497.83 points in the first half of the day, was balanced just above 2,460 points with the sales coming from this level.
While the Producer Price Index (PPI) in the USA increased by 1.4% on a monthly basis in March, it recorded the highest increase since November 2010, when the data was started to be calculated, with 11.2% on an annual basis.
Analysts stated that they are worried that inflation, which is effective on a global scale, especially in the USA, may further hawk central banks, and that the risk perception in world stock markets continues.
Stating that the developments regarding the Russia-Ukraine war remain at the center of the agenda, analysts stated that the interest rate decision to be announced by the Central Bank of the Republic of Turkey (CBRT) at the Monetary Policy Committee meeting tomorrow, and the interest rate decision of the European Central Bank (ECB) abroad will be the focus of the markets.
Analysts stated that although the ECB is not expected to change the policy rate, in the text of the decision and in the speech of ECB President Christine Lagarde, clues regarding the monetary policy in the next period will be sought after the inflation pressure that has increased considerably throughout the region. Analysts said that weekly money and bank statistics in the country, retail sales in the USA, weekly unemployment applications and the University of Michigan consumer confidence index will come to the fore in the data agenda.
Analysts stated that technically, 2,500 points in the BIST 100 index are in the resistance position, and the 2.410 and 2.390 levels are in the support position.
All economists participating in AA Finans’ expectation survey regarding the CBRT Monetary Policy Committee meeting estimate that the one-week repo auction rate (policy rate) will be kept constant at 14%.
The median of economists’ year-end policy rate expectations was 14%.
Source: Sabah / Translated by Irem Yildiz