How did the stock market perform in the first half of the day? (February 22, 2024)

The stock market rose in the first half of the day.

Moving with an upward trend in the first half of the day, the BIST 100 index rose by 75.82 points to 9,387.94 points as of 1:00 PM compared to the previous close. The total trading volume was 58.7 billion lira.

The banking index gained 0.52 percent, and the holding index gained 1.02 percent.

Among the sector indices, the biggest gainer was information technology with 3.56 percent, while the only decliner was securities investment trusts with 1.61 percent.

Analysts stated that in global equity markets, California-based chip manufacturer Nvidia's announcement of profits exceeding expectations in the last quarter increased risk appetite, while domestically, eyes have turned to the monetary policy decisions of the Central Bank of the Republic of Turkey (TCMB).

While all economists participating in the AA Finance expectation survey expect the central bank to keep the policy rate constant, the median of the economists' year-end policy rate expectations was 36.25 percent.

Analysts, who noted that in addition to the TCMB interest rate decision and weekly money and bank statistics domestically, weekly unemployment benefit applications in the US and manufacturing and service sector Purchasing Managers' Index (PMI) data will be monitored abroad, recorded that technically, the 9,400 and 9,500 levels are resistance, and the 9,300 and 9,200 levels are support for the BIST 100 index.

News Source: AA