Stock market ends day on a high note – Breaking News
Borsa Istanbul (BIST) saw a considerable increase in its index, with BIST 100 gaining 161.19 points compared to the previous close and recording a total transaction volume of TL 42.3 billion. The banking index gained by 8.37 percent, while the holding index increased by 3.90 percent. Among the sector indices, only tourism suffered losses of 0.63 percent.
Analysts have noted that the developments in the US economy continue to impact asset prices. The data regarding the situation of the labor market that was announced on Friday has eased recession concerns, and global markets have fluctuated. However, there has been a positive trend in Borsa Istanbul, primarily driven by the surge in banking stocks.
The analysts are closely watching the foreign trade balance that is expected to be announced in China tomorrow. They also stated that the BIST 100 index has technical support levels at 4.360 and 4.300, while the resistance level is at 4.500 points.
These findings suggest that the Turkish stock market is stable and resilient to global fluctuations while the banking sector is leading the prosperity. Investors both in Turkey and around the world will likely follow Borsa Istanbul closely in the near future.
