How did the stock market start the day? (February 29, 2024)

The stock market started the day with an increase.

At the opening, the BIST 100 index rose by 37.91 points and 0.42 percent compared to the previous close, reaching 9,100.27 points.

The banking index recorded a 0.18 percent increase, and the holding index rose by 0.31 percent. Among sector indices, transportation was the top gainer with 1.11 percent, while information technology was the biggest loser with 0.81 percent.

Yesterday, the BIST 100 index at Borsa Istanbul followed a downward trend, closing the day with a 1.28 percent loss at 9,062.36 points.

Analysts stated that global equity markets are following a mixed trend due to signals that personal consumption expenditures remain strong despite growth data in the US coming in below expectations, adding that eyes are turned to domestic growth data today.

Pointing out that the core personal consumption expenditures data, which is monitored by the Fed as an inflation indicator and will be announced today, is in the focus of investors, analysts noted that the data, which could significantly affect expectations regarding the timing of the Fed's interest rate cuts, could increase volatility in the markets.

News Source: AA