How did the stock market close? (March 28, 2024)

The BIST 100 index rose by 273.25 points compared to the previous close, with a total trading volume of 97.2 billion liras. The banking index gained 4.25 percent, while the holding index rose by 3.45 percent.

Among the sector indices, transportation was the top gainer with 4.83 percent, while information technology was the biggest loser with 1.49 percent.

On the other hand, according to data released today, the US economy grew by 3.4 percent in the fourth quarter of 2023, exceeding expectations. While there was an upward revision in the growth data for this period, market expectations were for the economy to grow by 3.2 percent in the final quarter.

Analysts stated that uncertainties regarding when the US Federal Reserve (Fed) will begin interest rate cuts continue in global equity markets.

Analysts, who noted that the foreign trade balance will be monitored domestically tomorrow, and that statements by US Federal Reserve (Fed) Chair Jerome Powell, personal income and expenditures in the US, wholesale inventories, and industrial production, retail sales, and the unemployment rate in Japan will be followed abroad, stated that from a technical perspective, 9,100 points is the resistance level for the BIST 100 index, while 8,800 and 8,700 levels are in the support position.

News Source: 12punto