BIST 100 Index Rises by 0.18%, Boosted by Banking and Holding Sectors
Borsa Istanbul’s BIST 100 index ended the day with a 0.18% increase, closing at 10,891.42 points. This marks a gain of 19.94 points compared to the previous close, with a total trading volume of 84.3 billion lira.
The banking index climbed by 0.42%, while the holding index saw a 0.24% increase. Among sector indices, the securities investment trusts index led the gains with a 1.54% rise, while the insurance index fell by 3.01%, making it the biggest loser of the day.
Analysts noted that global equity markets remained positive, supported by U.S. data suggesting a potential soft landing for the economy. The core personal consumption expenditures (PCE) price index, which excludes food and energy and is closely watched by the Federal Reserve, rose by 0.2% month-on-month in June, aligning with expectations. On a yearly basis, it increased by 2.6%, slightly above forecasts.
Next week, domestic focus will be on the economic confidence index, the Central Bank of Turkey’s (CBRT) Monetary Policy Committee meeting summary, and the trade balance. Internationally, key data will include growth, inflation, and unemployment rates in Germany and the Eurozone, the Bank of England’s (BoE) interest rate decision, and employment data from the U.S., along with the Federal Reserve’s interest rate decision. Analysts highlight 11,000 points as a resistance level and 10,800 and 10,700 points as support levels for the BIST 100 index.
Source: Trthaber / Prepared by Irem Yildiz