How did the stock market start the day? (February 22, 2024)

The stock market started the day with gains.

At the opening, the BIST 100 index rose by 47.46 points and 0.51 percent compared to the previous close, reaching 9,359.58 points.

The banking index recorded an increase of 0.54 percent, and the holding index rose by 0.40 percent. Among sector indices, the information technology sector was the top gainer with 1.43 percent, while the securities investment trust sector was the biggest loser with 1.95 percent.

Yesterday, the BIST 100 index at Borsa Istanbul followed a volatile course and closed the day with a 0.35 percent loss at 9,312.12 points.

ALL EYES ON THE CENTRAL BANK'S INTEREST RATE DECISION IN THE MARKETS

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, all eyes have turned to the monetary policy decisions of the Central Bank of the Republic of Turkey (CBRT).

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

Stating that the domestic data agenda is quiet today, while abroad, the consumer confidence index in the Eurozone, the Fed's meeting minutes in the US, and Nvidia's balance sheet will be monitored, analysts noted that from a technical perspective, the 9,400 and 9,500 levels are resistance points for the BIST 100 index, while the 9,300 and 9,200 levels are support points.

News Source: AA