Stock Market Surges at Opening Bell – Breaking News
Borsa Istanbul’s BIST 100 Index Starts the Day with a Positive Trend
At the opening of trading today, Borsa Istanbul’s BIST 100 index showed a positive trend by increasing by 21.60 points and 0.21 percent compared to the previous closing, reaching 10,358.10 points. The banking index saw a 0.19 percent increase, while the holding index experienced a 0.34 percent increase. Among the sector indices, construction emerged as the biggest gainer with 0.88 percent, while sports suffered a 2.36 percent decrease.
Yesterday, Borsa Istanbul’s BIST 100 index rose by 0.68 percent and closed the day at a record level of 10,336.50 points, hitting its peak at 10,375.74 points. The search for direction in global markets continues as investors await clearer signals regarding the future steps of the US Federal Reserve (Fed).
On a positive note, Turkey’s 5-year credit risk premium (CDS) dropped below 282 basis points yesterday for the first time since February 2021, currently standing at 279.33. Analysts attribute this decline to the steps taken by the economic management to increase interest in Turkish lira assets, as well as the news of Turkey opening foreign swap channels.
Looking ahead, analysts advise monitoring the treasury cash balance in Turkey, industrial production in Germany, wholesale goods stocks, and mortgage applications in the USA. Technically, the levels of 10,470 and 10,650 in the BIST 100 index are seen as resistance points, while 10,230 and 10,150 are considered support levels for the index. Investors are advised to stay updated on market news and developments to make informed decisions.
