How did the stock market close? (March 11, 2024)

The BIST 100 index decreased by 23.50 points compared to the previous close, with a total trading volume of 106.7 billion liras.

The banking index gained 0.33 percent, while the holding index rose by 0.93 percent. Among the sector indices, the textile and leather sector was the top gainer with 1.95 percent, while the communication sector saw the largest decline at 4.55 percent.

Analysts stated that global equity markets began the week, in which US inflation data will be released, with a negative trend.

Analysts noted that balance of payments and industrial production data will be monitored domestically tomorrow, while the Consumer Price Index (CPI) in the US and Germany, the US Treasury budget balance, the Producer Price Index (PPI) in Japan, and the unemployment rate in the UK will be followed internationally. They added that the inflation data to be released in the US could provide clues regarding the future policies of the US Federal Reserve (Fed).

Analysts noted that from a technical perspective, 9,400 and 9,500 points are resistance levels for the BIST 100 index, while the 9,100 level acts as support.

Economists participating in the AA Finance Balance of Payments Expectation Survey estimate that the current account deficit was 2 billion 460 million dollars in January. Economists expect the current account deficit to reach 30 billion 611 million dollars in 2024.

News Source: AA