The BIST 100 index at Borsa Istanbul finished the day at 11,172.75 points, gaining 0.15% in value, marking the highest daily closing of all time.
The BIST 100 index increased by 16.55 points compared to the previous close, with a total trading volume of 110.8 billion Turkish Lira.
While the banking index decreased by 1.41%, the holding index rose by 0.83%.
Among sector indices, communication was the top gainer with an increase of 3.60%, while financial leasing and factoring suffered the most significant loss, declining by 3.56%.
Analysts noted that global equity markets started the week cautiously following uncertainties that arose after President Joe Biden’s withdrawal from the US presidential race.
As central banks worldwide gradually approach the end of their tight monetary policies to combat inflation, the potential outcomes of the US elections continue to complicate asset pricing.
Analysts highlighted that the key events tomorrow will include the Turkish Central Bank’s (TCMB) interest rate decision from the Monetary Policy Committee (PPK) meeting, the consumer confidence index domestically, and the Richmond Fed manufacturing index, second-hand home sales in the US, and the consumer confidence index in the Eurozone internationally. They pointed out that, from a technical perspective, resistance levels for the BIST 100 index are at 11,250 and 11,350 points, while support levels are at 11,000 and 10,900 points.
According to the expectation survey conducted by AA Finance, all participating economists expect the TCMB to keep the policy rate steady at 50%.
The median year-end policy rate expectation of the economists is calculated to be 45%.
source: aa.com.tr/ prepared by Melisa Beğiç