Midday in the markets: 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 reached 7,570.66 points as of 13:00, an increase of 100.48 points compared to the previous close. The total trading volume was 36.8 billion liras.

The banking index gained 0.82 percent, and the holding index gained 0.9 percent.

Among sector indices, the biggest gainer was informatics with 4.52 percent, while the biggest decliner was sports with 1.73 percent.

Analysts stated that global equity markets are following a mixed course due to geopolitical risks that remain hot in the Middle East, but that domestic markets are decoupling positively, adding that macroeconomic data to be announced throughout the week are in the focus of investors.

According to the data released today, although the manufacturing industry Purchasing Managers' Index (PMI) rose to 47.4, it showed that the contraction in the manufacturing industry continues.

Stating that the domestic data agenda is quiet for the rest of the day, analysts noted that from a technical perspective, 7,500 and 7,400 points are support levels for the BIST 100 index, while 7,600 and 7,650 levels are resistance positions.

News Source: AA