How did the stock market start the day? (March 7, 2024)

The stock market started the day with gains.

At the opening, the BIST 100 index rose by 52.95 points, or 0.61 percent, compared to the previous close, reaching 8,797.54 points.

The banking index recorded a 0.54 percent increase, while the holding index rose by 0.35 percent. Among sector indices, transportation was the top gainer with 2.45 percent, while the securities investment trust index was the biggest loser with a 1.24 percent decline.

Yesterday, the BIST 100 index at Borsa Istanbul followed a downward trend, closing the day with a 1.31 percent loss at 8,744.58 points.

Analysts stated that global equity markets followed a positive trend after US Federal Reserve (Fed) Chair Jerome Powell indicated that they would not rush to cut interest rates, but that it would likely be appropriate to do so "at some point this year," adding that all eyes are now on the European Central Bank's (ECB) interest rate decision today.

News Source: AA