Turkish Stock Market: BIST 100 Index Reaches New Peaks with a 0.67% Gain
The Borsa Istanbul’s BIST 100 index closed the day at an all-time high of 11,139.34 points, achieving a 0.67% increase. The index’s highest level reached 11,188.12 points, gaining 74.49 points from the previous close, with a total trading volume of ₺101.2 billion.
The banking index rose by 2.09%, and the holding index increased by 0.60%. Among sector indices, sports saw the highest gains with a 3.64% rise, while communication experienced the most significant decline, falling by 2.04%.
Additionally, the International Monetary Fund (IMF) raised its growth forecast for the Turkish economy from 3.1% to 3.6% for this year.
Analysts noted that despite Federal Reserve Chair Jerome Powell’s comments on avoiding delays in rate cuts, market sentiment remains mixed due to the increasing likelihood of Donald Trump’s re-election, which raises concerns about potential trade wars and geopolitical risks.
Tomorrow, analysts will focus on domestic housing sales and international reports such as the Fed’s Beige Book, U.S. industrial production, housing starts and building permits, and inflation data from the Eurozone and the UK. Technically, the BIST 100 index has resistance levels at 11,200 and 11,300 points, with support levels at 11,000 and 10,900 points.
Source: Trthaber / Prepared by Irem Yildiz