Borsa Istanbul remains flat

The BIST 100 index at Borsa Istanbul fell by 0.02 percent in the first half of the day to 5,371.73 points.

In the first half of the day, as of 13:00, the BIST 100 index decreased by 0.93 points compared to the previous close, dropping to 5,371.73. The total trading volume reached 53.9 billion lira.

BANKING WAS THE TOP-GAINING SECTOR

The banking index lost 1.18 percent, and the holding index lost 0.26 percent. Among sector indices, mining was the top gainer with 2.74 percent, while electricity was the biggest loser with 1.76 percent.

Analysts stated that global equity markets continue to search for direction due to uncertainties regarding the monetary policies of the US Federal Reserve (Fed).

Noting that the US Treasury has begun bond sales following the resolution of the US debt ceiling crisis, analysts said that concerns persist that US government borrowing could negatively affect market liquidity.

5,300 AND 5,200 POINTS ARE AT SUPPORT LEVELS

With these developments, while the market is pricing in a 74 percent probability that the Fed will not change interest rates next week, the Bank is expected to set its terminal interest rate 25 basis points above the current level.

Analysts noted that the real effective exchange rate will be monitored domestically in the afternoon, and stated that from a technical perspective, the 5,500 and 5,700 levels are resistance, while 5,300 and 5,200 points are at support levels for the BIST 100 index.

News Source: 12punto