Borsa Istanbul Stock market ended the day with gains

The BIST 100 index increased by 20.83 points compared to the previous closing, with a total trading volume of 95 billion Turkish lira.

The banking index gained 0.63%, while the holding index rose by 0.87%.

Among the sector indices, insurance showed the highest increase with 2.62%, while sports experienced the highest decrease with 3.63%.

Meanwhile, Turkey’s 5-year credit default swap (CDS) fell to its lowest level since February 2020, at 275.78 basis points.

Additionally, during the information meeting held at the Central Bank Headquarters, Turkey’s Central Bank President Fatih Karahan shared the second Inflation Report of the year. He stated that they revised their year-end inflation forecast upward by 2 points to 38%, while maintaining their 2025 and 2026 forecasts at 14% and 9%, respectively.

The Bank of England (BoE) also kept its policy rate unchanged at 5.25%, in line with market expectations.

BoE President Andrew Bailey stated that despite the decrease in inflation, they are not yet at a point where they can lower the policy rate, saying, “Before our meeting in June, we will evaluate inflation twice and labor market data once. Frankly, there is neither an unlikely nor a planned change in the policy rate in June.”

In the global markets, signals regarding future steps by the Federal Reserve (Fed) are still awaited.

Analysts noted that industrial production and labor statistics will be followed domestically tomorrow, while in foreign markets, Japan’s trade balance, growth in the UK, the University of Michigan’s consumer confidence index in the US, and the European Central Bank (ECB) meeting minutes will be the focus of attention.

From a technical standpoint, analysts pointed out that in the BIST 100 index, 10,300 and 10,400 levels serve as resistance, while 10,200 and 10,000 points act as support.

source: prepared by Melisa Beğiç

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