How did the stock market close? (May 13, 2024)

The BIST 100 index decreased by 162.60 points compared to the previous close, with a total trading volume of 93.5 billion liras. The banking index lost 1.86 percent, and the holding index lost 1.55 percent.

While all sector indices declined, the forestry, paper, and printing sector saw the largest loss at 5.29 percent.

According to data released today, Turkey's current account balance recorded a deficit of 4 billion 544 million dollars in March, while the current account balance excluding gold and energy posted a surplus of 782 million dollars.

The annualized current account deficit fell to 31.2 billion dollars in March, while the improvement in the annualized current account deficit since May 2023 reached 25.8 billion dollars.

In global markets, investors are maintaining a cautious stance due to uncertainties regarding the future policies of the US Federal Reserve (Fed), and inflation data to be released in the US on Wednesday is expected to increase volatility in the markets.

Analysts stated that the domestic data agenda will be quiet tomorrow, while abroad, statements by Fed Chair Jerome Powell, the Producer Price Index (PPI) in the US, and inflation and ZEW indices in Germany will be monitored, noting that technically, 10,000 points serve as support for the BIST 100 index, while 10,300 and 10,400 levels act as resistance.

News Source: 12punto