Stock market declines in the first half of the day (April 3, 2024)

Moving with a downward trend in the first half of the day, the BIST 100 index fell by 67.39 points compared to the previous close, reaching 8,973.48 points as of 13:00. The total trading volume was 37 billion liras. The banking index lost 2.44 percent, and the holding index lost 1.54 percent.

Analysts stated that global equity markets are following a negative course due to growing concerns that the US Federal Reserve (Fed) may start cutting policy rates later than anticipated, noting that the focus today is on the forward guidance of Fed Chair Jerome Powell.

Stating that ADP private sector employment and service sector Purchasing Managers' Index (PMI) data from the US will be monitored in the afternoon, analysts noted that from a technical perspective, the 8,900 and 8,800 levels are support, while 9,000 and 9,100 points are resistance for the BIST 100 index.

News Source: 12punto