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Stock market concluded the day with a decline

The BIST 100 index in Borsa Istanbul ended the day down by 2.09% at 9,602.16 points. It decreased by 205.34 points compared to the previous closing, with a total trading volume of 107.8 billion Turkish lira. The banking index lost 1.74%, while the holding index decreased by 1.18%. Among the sector indices, the only gainer was financial leasing factoring with an increase of 4.20%, while mining was the biggest loser with a decline of 5.43%. Global markets are showing a mixed trend due to US President Donald Trump’s tariff threats and uncertainties surrounding the future path of the US Federal Reserve. Analysts mentioned the upcoming dense data agenda including growth indicators domestically and internationally, such as growth in the US, PCE price index, growth in Germany, and the meeting minutes of the European Central Bank (ECB). They emphasized that technically, the support levels for the BIST 100 index are at 9,550 and 9,500 points, while resistance levels are at 9,700 and 9,800 levels. According to the AA Finance economist survey, economists predict a 2.98% year-on-year increase in Gross Domestic Product in the 4th quarter of 2024. The average growth expectation for the entire year 2024 is 3.12%, while the average growth forecast for the end of 2025 is 2.96%.

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