Positive Start in Borsa Istanbul
In Borsa Istanbul, the BIST 100 index started the day with a 0.19% increase at 9,351.44 points, gaining 17.31 points compared to the previous close.
Banking index showed a 0.15% increase, while the holding index recorded a 0.04% rise. Among the sector indices, technology was the top gainer with 2.33% increase, while sports sector was the biggest loser with a 0.35% decrease.
Market Analysis and Expectations
Analysts noted a cautious trend in global stock markets due to uncertainty regarding the Federal Reserve's interest rate cuts. They also mentioned that macroeconomic data to be released in the US during the week could provide signals about the Fed's future actions.
Meanwhile, Treasury and Finance Minister Mehmet Şimşek and Central Bank of the Republic of Turkey (CBRT) Governor Fatih Karahan are expected to travel to Brazil today to attend the G20 Finance Ministers and Central Bank Governors Meeting. The market will closely follow the news flow related to this event.
Analysts highlighted a calm domestic data agenda for the day, while in the international arena, the GfK consumer confidence index in Germany and durable goods orders and home price index in the US will be monitored. They also outlined the technical levels for the BIST 100 index as 9,400 and 9,500 acting as resistance levels, and 9,300 and 9,200 as support levels.
