The BIST 100 index at Borsa Istanbul completed the day with a 0.09% gain, closing at 9,250.36 points, achieving the highest daily and weekly closing in its history, and setting a record at 9,306.34 points.
Stock Exchange Ends the Day with Records
In Istanbul, the BIST 100 index increased by 8.21 points compared to the previous closing, with a total transaction volume of 148.6 billion Turkish Lira.
While the banking index lost 0.43%, and the holding index lost 0.07%, among the sector indices, mining gained the most with 3.55%, and trade lost the most with 1.09%.
According to the data announced today, the Producer Price Index (PPI) in the United States increased by 0.3% on a monthly basis and 0.9% on an annual basis in January, exceeding expectations.
Analysts stated that the data on PPI in the United States and the view that the Federal Reserve (Fed) will not rush to lower interest rates have dampened risk appetite in global markets.
Analysts pointed out that the summary of the Central Bank of the Republic of Turkey’s (CBRT) Monetary Policy Committee (MPC) meeting, consumer confidence index, real sector confidence index, and capacity utilization rate will be prominent in the upcoming week. Additionally, minutes of the Federal Open Market Committee (FOMC) meeting of the Federal Reserve (Fed), inflation in the Eurozone, growth in Germany, and Purchasing Managers’ Index (PMI) data for the manufacturing industry in the United States, Eurozone, and Germany will be monitored closely. From a technical perspective, analysts noted that the resistance levels for the BIST 100 index are at 9,300 and 9,500, while the support levels are at 9,200 and 9,000.
All economists participating in AA Finans’s expectation survey expect the CBRT to keep the policy rate unchanged.
The median expectation of economists for the end-of-year policy rate is 36.25%.
source: aa.com.tr / prepared by Melisa Beğiç