Midday in the markets (April 24, 2024)

Moving with an upward trend in the first half of the day, the BIST 100 index rose by 104.33 points as of 13:00, compared to the previous close, reaching 9,749.35 points. The total trading volume was 49.1 billion lira.

The banking index gained 2.58 percent, and the holding index gained 0.92 percent.

Among the sector indices, the financial leasing and factoring sector was the top gainer with 3.71 percent, while the sports sector saw the largest decline with 7.97 percent.

Analysts stated that global equity markets are following a positive course led by technology stocks, despite ongoing uncertainty regarding the timing of interest rate cuts by the US Federal Reserve (Fed), noting that eyes are turned today to the earnings reports expected from major companies, primarily IBM, Boeing, and Meta.

Stating that durable goods orders data in the US will be monitored in the afternoon, analysts noted that from a technical perspective, the 9,800 and 9,900 levels are resistance points for the BIST 100 index, while 9,600 and 9,500 points are support levels.

News Source: 12punto