Borsa Istanbul opens with a decline in line with global markets

At the opening, the BIST 100 index fell by 33.66 points, or 0.42 percent, compared to the previous close, dropping to 7,998.51 points.

The banking index decreased by 0.44 percent, while the holding index fell by 0.46 percent. Among sector indices, the food and beverage sector saw the highest gain with 0.03 percent, while the communication sector saw the largest decline with 0.88 percent.

Yesterday, the Borsa Istanbul BIST 100 index, which followed a volatile course, completed the day with a 0.15 percent loss at 8,032.17 points.

Analysts stated that global equity markets are following a negative trend due to mixed signals from China and weakening expectations that the US Federal Reserve (Fed) will begin interest rate cuts in March, while noting that they are focusing on the statements of European Central Bank (ECB) President Christine Lagarde today.

Analysts, who stated that the private sector's external debt and the housing price index will be monitored domestically today, and that in addition to Lagarde's statements, inflation in the UK and the Eurozone, as well as retail sales, industrial production, and capacity utilization rate data in the US will be followed abroad, reported that technically, the 7,910 and 7,850 levels are support, and 8,000 and 8,060 points are resistance for the BIST 100 index.

News Source: AA