Turkiye: The stock market rose by 0.70% in the first half of the day

BIST 100 index in Borsa Istanbul rose 0.70% in the first half of the day to 5,043.62 points.

Moving in an upward trend in the first half of the day, the BIST 100 index increased by 35.05 points to 5.043.62 as of 13.00, compared to the previous close. Total transaction volume amounted to ₺31.1 billion.

The banking index gained 0.42% and the holding index gained 0.13%.

Among the sector indices, mining was the highest earner with 7.28% and communication was the lowest with 3.59%.

Analysts stated that a selling trend was followed in the stock markets with the expectations that the US Federal Reserve (Fed) will raise interest rates for a while and the high-interest rate environment will continue for a long time.

Stating that volatility may remain on the agenda for a while with the increased sensitivity to the data, analysts said that the reflection of the measures taken in the country on the markets and the news flow regarding the earthquakes in Kahramanmaras will continue to be followed.

Analysts reported that technically, 4,750 points in the BIST 100 index are in the position of support and the level of 5,200 in the resistance position.

Source: Trthaber / Prepared by Irem Yildiz

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