The BIST 100 index at Borsa Istanbul started the day at a record level of 8,993.12 points, marking a 0.48% increase, according to Murat Aslan’s report.
At the opening, the BIST 100 index gained 43.33 points and 0.48% compared to the previous closing, reaching 8,993.12 points.
The banking index recorded a 0.25% increase, and the holding index saw a 0.49% rise. Among the sector indices, financial leasing and factoring led with a gain of 1.24%, while insurance was the only sector with a slight loss of 0.11%.
Yesterday, BIST 100 index closed the day with a 1.21% gain, reaching a closing record of 8,949.79 points. The index also reached its highest level at 8,990.37 points during the day.
Analysts attribute the strong performance in global equity markets to the robust economic indicators in the United States, supporting the “soft landing” scenario. Additionally, companies worldwide continue to exceed profit expectations, contributing to a strong risk appetite.
On another note, the newly appointed Governor of the Central Bank of the Republic of Turkey (TCMB), Fatih Karahan, held the first “Inflation Report” meeting with TCMB Deputy Governors Cevdet Akçay and Hatice Karahan. Karahan mentioned that the impact of monetary tightening on pricing behaviors was stronger than anticipated.
He stated that the year-end inflation forecasts for 2024, 2025, and 2026 remained unchanged from the previous report, with predictions of 36%, 14%, and 10%, respectively.
Furthermore, the Capital Markets Board (SPK) introduced regulations related to inflation accounting. The adjustment grants an additional 15 days for companies going public with their 9-month financial statements. The SPK also approved the initial public offering of Limak Eastern Anatolia Cement Industry and Trade Inc.
Analysts emphasized that today’s focus in the domestic market will be on industrial production, while internationally, inflation data from Germany will be closely monitored. From a technical perspective, they identified 9,000 and 9,140 points as resistance levels and 8,900 and 8,800 levels as support for the BIST 100 index.
source: aa.com.tr / prepared by Melisa Beğiç