How did the stock market start the first trading day of the week? (March 18, 2024)

The stock market started the week with an increase

At the opening, the BIST 100 index rose by 15.80 points and 0.18 percent compared to the previous close, reaching 8,844.50 points.

While the banking index recorded a 0.15 percent increase, the holding index declined by 0.05 percent. Among sector indices, the securities investment trust was the top gainer with 1.76 percent, while the sports sector was the top loser with 0.44 percent.

On Friday, the BIST 100 index at Borsa Istanbul followed a selling trend and closed the day with a 0.62 percent loss at 8,828.70 points.

Analysts stated that global equity markets started the week with a positive trend as the central banks of the US, UK, and Japan are set to announce their interest rate decisions, adding that the monetary policy decisions to be taken by the Central Bank of the Republic of Turkey (TCMB) have also become the focus of investors domestically.

Economists participating in the AA Finance expectation survey expect the TCMB to keep the policy rate constant at 45.00 percent, while the median of the economists' year-end policy rate expectations was also 45.00 percent.

Analysts, who reported that the residential property price index and short-term external debt statistics will be monitored domestically today, and inflation and foreign trade data in the Eurozone will be followed abroad, noted that technically, the 8,740 and 8,600 levels are support, and 8,900 and 9,000 points are resistance levels for the BIST 100 index.

News Source: 12punto