Borsa Istanbul Starts the Day on a High Note

BIST 100 Index Opens with a 0.19% Increase Amid Global Market Uncertainty

Borsa Istanbul’s BIST 100 index began the day with a 0.19% rise, opening at 10,817.56 points. This marks a 20.99 point increase from the previous close.

At the opening, the banking index gained 0.14%, while the holding index rose by 0.13%. Among sector indices, the highest gain was in the stone and soil sector with a 0.87% increase, while the communication sector saw the largest decline at 0.73%.

Yesterday, the BIST 100 index ended the day down by 0.62%, closing at 10,796.57 points following a bearish trend.

Global Markets Show Mixed Performance

Analysts note that global stock markets are showing mixed performances after US Federal Reserve Chairman Jerome Powell emphasized the need for “more good data” before considering rate cuts. Powell’s remarks remain in focus for investors today.

Yesterday, Powell stated that the data for the first quarter of this year did not fully support increased confidence. However, he noted, “The latest inflation data showed modest progress, and more good data will strengthen our confidence that inflation is moving sustainably toward 2%.”

Today, domestic industrial production and unemployment rates, as well as US wholesale inventory data and Powell’s statements before the House of Representatives, are being closely watched. Analysts point out that technically, the BIST 100 index has resistance at 10,900 and 11,000 points, and support at 10,800 and 10,700 points.

Source: Trthaber / Prepared by Irem Yildiz

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