How did the stock market close? (March 7, 2024)

The BIST 100 index increased by 309.6 points compared to the previous close, with a total trading volume of 98.5 billion liras.

The banking index gained 5.43 percent, and the holding index rose by 3.21 percent.

Among all sector indices, the insurance sector was the top gainer with a 6.16 percent increase.

Analysts noted that global equity markets followed a positive trend after US Federal Reserve (Fed) Chair Jerome Powell stated that they would not rush to cut interest rates, but that it would likely be appropriate to do so "at some point this year," and that this trend also influenced domestic markets.

Stating that the real rate of return on financial investment instruments and Fitch's credit report for Turkey will be monitored domestically tomorrow, while industrial production in Germany, GDP in the Eurozone, and unemployment rates in the US will be followed abroad, analysts reported that technically, the 8,900 and 8,800 levels are support, while 9,100 and 9,200 points are resistance levels for the BIST 100 index.

News Source: AA