Midday in the markets: How did the stock market perform in the first half of the day? (January 25, 2024)

The stock market rose in the first half of the day.

Moving with an upward trend in the first half of the day, the BIST 100 index rose by 86.30 points to 8,177.20 points as of 13:00, compared to the previous close. The total trading volume was 34.4 billion liras.

The banking index gained 0.76 percent, and the holding index gained 1.03 percent.

Among the sector indices, the stone and soil sector gained the most with 2.47 percent, while the trade sector declined the most with 0.48 percent.

Analysts stated that the possibility of a "soft landing" for major economies remains on the agenda in global equity markets, adding that the monetary policy decisions of the Central Bank of the Republic of Turkey (TCMB) are the focus of investors domestically today.

Stating that it is possible for the signals to be received from the policy text along with the TCMB's interest rate decision to increase volatility in domestic markets, analysts noted that expectations that the bank's hawkish steps, which have been ongoing for some time, will end with this meeting are dominant in the markets.

Economists participating in the AA Finance expectation survey predict that the TCMB will increase the policy rate by 250 basis points to 45 percent.

Analysts noted that in the afternoon, in addition to the TCMB's interest rate decision domestically, money and banking statistics, and abroad, the European Central Bank's (ECB) interest rate decision, statements by ECB President Christine Lagarde, and a busy data agenda, primarily growth in the US, will be followed, and recorded that technically, the 8,200 and 8,300 levels are resistance, and 8,100 and 8,060 points are support for the BIST 100 index.

News Source: AA