How did the stock market perform in the first half of the day? (February 26, 2024)

Stock market declined in the first half of the day

Moving with a downward trend in the first half of the day, the BIST 100 index fell by 34.08 points compared to the previous close, reaching 9,340.12 points as of 13:00. The total trading volume was recorded at 69.2 billion liras.

The banking index lost 2.43 percent, while the holding index lost 0.39 percent. Among sector indices, the biggest gainer was information technology with 3.76 percent, while the biggest loser was banking with 2.43 percent.

Analysts stated that the risk appetite in global equity markets, which had increased last week after Nvidia reported earnings above expectations for the final quarter, has given way to a cautious trend, and that this trend is also affecting domestic markets.

Noting that the domestic data agenda is quiet for the remainder of the day, while new home sales and the Dallas Fed manufacturing index data from the US will be monitored abroad, analysts recorded that from a technical perspective, the 9,500 and 9,550 levels are resistance, while the 9,300 and 9,200 levels are support for the BIST 100 index.

News Source: AA