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Stock market opens with an increase

The BIST 100 index in Borsa Istanbul started the day with a 0.52% increase, reaching 10,492.43 points. At the opening, the BIST 100 index rose by 54.10 points and 0.52% to reach 10,492.43 points compared to the previous closing. The banking index gained 0.47%, while the holding index increased by 0.52%. Among the sector indices, construction showed the highest gain with 2.07%, while electricity had the most significant loss at 0.67%. In the domestic market, the BIST 100 index followed a buying-oriented trend yesterday and ended the day with a 0.15% gain, closing at 10,438.33 points. Globally, President Donald Trump’s statements alleviating recession concerns and signals that he may back down from doubling steel and aluminum tariffs on Canada eased selling pressure. Investors are now focusing on the inflation data to be announced in the US. On another note, Borsa Istanbul decided to apply the upward tick rule for short selling transactions in stocks included in the BIST 50 Index for one day in today’s session. Analysts mentioned that today, the balance of payments in the domestic market and inflation data in the US, as well as remarks by Christine Lagarde, the President of the European Central Bank (ECB), will be closely monitored. From a technical standpoint, they noted that 10,500 and 10,600 points are resistance levels, while 10,400 and 10,300 levels serve as support for the BIST 100 index.

Stock market opens with an increase

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