How did the stock market start the day? (March 14, 2024)

The stock market started the day with gains.

At the opening, the BIST 100 index rose by 31.23 points and 0.35 percent compared to the previous close, reaching 8,941.46 points.

The banking index gained 0.37 percent, and the holding index gained 0.22 percent. Among sector indices, the sports sector was the top gainer with 1.13 percent, while the securities investment trust sector saw the largest decline with 0.76 percent.

Following a sell-heavy trend yesterday, the BIST 100 index at Borsa Istanbul closed the day with a 1.75 percent loss at 8,910.23 points.

Analysts stated that global equity markets are following a mixed trend due to ongoing uncertainties regarding when the US Federal Reserve (Fed) will begin interest rate cuts, noting that eyes are turned today to the Producer Price Index (PPI) data to be released in the US.

Analysts, who reported that weekly money and banking statistics will be monitored domestically, and weekly jobless claims and retail sales data will be followed in the US, noted that from a technical perspective, the 9,000 and 9,100 levels are resistance, while the 8,900 and 8,800 levels are support for the BIST 100 index.

News Source: AA