Borsa Istanbul’s BIST 100 index closed the day at an all-time high of 10,895.25 points, marking a 1.45% increase and setting a new record with an intraday peak of 11,088.01 points.
The BIST 100 index rose by 155.68 points from the previous closing, with a total transaction volume reaching 215.5 billion lira.
Market Highlights:
- Banking Index: Gained 6.05%, making it the most profitable sector of the day.
- Holding Index: Increased by 2.43%.
- Sector Performance: Banking sector led gains, while the sports sector saw the most losses with a 3.47% decline.
Analysts attributed the positive divergence of the domestic markets, particularly led by banking stocks, to a generally negative trend in global equity markets. This was influenced by the cautious guidance from US Federal Reserve (Fed) officials.
Key Movements:
- Yapı ve Kredi Bankası: Speculation about a potential sale to an international buyer pushed its share price up by 9.97%, reaching a ceiling price of ₺37.96.
- Koç Holding: Shares increased by 7.3%, boosting the company’s market value to over $20 billion.
Upcoming Data and Events:
- Domestic Agenda: Expected to be calm with no significant data releases.
- International Focus: Japan’s trade balance, UK inflation, US second-hand housing sales, and the minutes from the Fed’s Federal Open Market Committee (FOMC) meeting.
Technical Outlook:
- Resistance Levels: 11,250 and 11,500 points.
- Support Levels: 10,800 and 10,700 points.
Analysts continue to monitor the trends and signals in the market closely, providing insights and updates as the market dynamics evolve.
Source: AA / Prepared by Irem Yildiz
