The stock market rose sharply in the first half of the day

BIST 100 index in Borsa Istanbul increased by 9.74% in the first half of the day to 4,944.31 points.

Moving in an upward trend in the first half of the day, the BIST 100 index rose 438.96 points to 4,944.31 as of 13:00, compared to the previous close. Total transaction volume stood at ₺26.6 billion.

The banking index gained 9.92% and the holding index gained 9.45%. While all sector indices rose, communication was the highest earner with 9.99%.

The BIST 100 index was closed to trading on Wednesday last week due to the earthquakes in Kahramanmaras, and the transactions on that day were also cancelled. On Tuesday, last week when the most recent transactions took place, the index lost 8.62% and closed at 4,505.34 points.

Before today’s opening, the Capital Markets Board (CMB), the Banking Regulation and Supervision Agency (BDDK) and Borsa İstanbul announced a series of measures in Borsa Istanbul stock and futures markets, where transactions were suspended for 5 trading days.

5.100 points resistance position for BIST 100

Analysts stated that the domestic measures are expected to increase the interest in TL assets, and that the activity in the company shares, which announced a buyback program, will be followed closely.

In global stock markets, analysts said that global markets were fluctuating after the inflation data announced in the USA yesterday, which was above the forecasts, and that the retail sales in the USA and the New York Fed manufacturing index came to the fore in the afternoon data agenda.

Stating that the statements of the President of the European Central Bank, Christine Lagarde, will also be followed, analysts noted that technically, the levels of 4,750 and 4,600 for the BIST 100 index are in the position of support, while the levels of 5,100 are in the position of resistance.

Source: Trthaber / Prepared by Irem Yildiz

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