How did the stock market start the final trading day of the week? (March 15, 2024)

The stock market started the final trading day of the week with gains.

At the opening, the BIST 100 index rose by 18.34 points and 0.21 percent compared to the previous close, reaching 8,901.86 points.

The banking index recorded an increase of 0.09 percent, and the holding index rose by 0.20 percent. Among sector indices, tourism was the top gainer with 1.31 percent, while the information technology sector was the biggest loser with 0.82 percent.

Yesterday, the BIST 100 index at Borsa Istanbul followed a downward trend, closing the day with a 0.30 percent loss at 8,883.52 points.

Analysts stated that risk appetite in global equity markets has weakened due to concerns that the US Federal Reserve (Fed) may begin interest rate cuts later than anticipated, following US consumer and producer inflation data that came in higher than expected.

Analysts noted that today, the Central Bank of the Republic of Turkey (TCMB) Market Participants Survey and statistics on private sector credit debt from abroad will be monitored domestically, while industrial production, capacity utilization, the New York Fed manufacturing index, and the University of Michigan consumer confidence index data will be followed abroad. From a technical perspective, they noted that the 9,000 and 9,100 levels are resistance points for the BIST 100 index, while 8,800 and 8,700 points serve as support.

News Source: AA