Record-Breaking Daily and Weekly Closing Marks Achieved Amid Global Market Turbulence
Borsa Istanbul’s BIST 100 index ended the day with a 0.15% gain, closing at an unprecedented 11,156.20 points, marking its highest daily and weekly closing ever. The index rose by 16.74 points from the previous close, with a total trading volume of ₺113.9 billion.
While the banking index saw a 0.78% increase, the holding index experienced a 0.22% decline. Among sector indices, sports saw the highest gain at 2.19%, whereas financial leasing factoring suffered the biggest loss at 2.41%.
Analysts noted the negative trend in global stock markets due to rising geopolitical risks and a sell-off in tech stocks on US exchanges spreading worldwide. They highlighted the anticipated review of Turkiye’s credit rating by Moody’s, expected after the markets close this evening.
Additionally, a global software issue stemming from CrowdStrike, a cybersecurity service provider for Microsoft, heightened risk perception in global markets.
Next week, analysts will be closely watching the Turkish Central Bank’s (CBRT) Monetary Policy Committee meeting for interest rate decisions, the real sector confidence index, and the capacity utilization rate. Internationally, key data points include US growth figures, personal income and spending, durable goods orders, and manufacturing and services PMI from both the US and Europe. Technically, analysts see resistance at 11,250 and 11,350 points for the BIST 100 index, with support levels at 11,000 and 10,900 points.
Source: Trthaber / Prepared by Irem Yildiz