BIST 100 index at Borsa Istanbul opens the day with a 0.08 percent decline at 7,657.03 points

At the opening, the BIST 100 index fell by 5.81 points, or 0.08 percent, compared to the previous close, reaching 7,657.03 points.

The banking index rose by 0.23 percent, while the holding index recorded a decrease of 0.01 percent. Among sector indices, the forestry, paper, and printing sector gained the most with 1.16 percent, while the real estate investment trust sector declined the most with 0.82 percent.

Yesterday, the BIST 100 index at Borsa Istanbul followed a sell-heavy trend, closing the day with a 0.82 percent loss at 7,662.85 points.

In global markets, a negative trend was observed as optimism regarding interest rate cuts by the US Federal Reserve (Fed) waned and investors sought to reduce their assets before the Christmas holiday. Today, the interest rate decision of the Central Bank of the Republic of Turkey (TCMB) has become the focus of investors domestically.

Analysts emphasized the importance of the guidance in the policy text alongside the decision on the policy rate, stating that the signals received from here are likely to increase volatility in asset prices.

On the other hand, economists participating in the AA Finance expectation survey regarding the TCMB Monetary Policy Committee (PPK) meeting estimate that the bank will increase the one-week repo auction interest rate (policy rate) by 250 basis points to 42.50 percent.

Analysts, who stated that in addition to the TCMB interest rate decision, weekly money and bank statistics domestically, and a busy data agenda, primarily growth in the US, will be followed abroad, noted that technically, 7,590 and 7,500 points are support levels for the BIST 100 index, while 7,700 and 7,810 levels are in the position of resistance.

News Source: 12punto