How did the stock market start the day? (February 27, 2024)

The stock market started the day with an increase.

At the opening, the BIST 100 index gained 17.31 points and 0.19 percent compared to the previous close, rising to 9,351.44 points.

The banking index recorded an increase of 0.15 percent and the holding index rose by 0.04 percent. Among the sector indices, the informatics sector was the top gainer with 2.33 percent, while the sports sector was the top loser with 0.35 percent.

Following a bearish trend yesterday, the BIST 100 index at Borsa Istanbul closed the day with a 0.43 percent loss at 9,334.13 points, while it also pushed its all-time high record to 9,450.48 points.

Analysts stated that global equity markets are following a cautious trend due to the ongoing uncertainty regarding when the US Federal Reserve (Fed) will begin interest rate cuts, adding that macroeconomic data to be released in the US throughout the week could provide signals regarding the steps the Fed will take in the coming periods.

Analysts noted that the domestic data agenda is quiet today, while abroad, the GfK consumer confidence index in Germany and durable goods orders and the housing price index in the US will be monitored, adding that technically, the 9,400 and 9,500 levels are resistance, while the 9,300 and 9,200 levels are support for the BIST 100 index.

News Source: AA