Stock market opens at record high

The BIST 100 index at Borsa Istanbul opened the day at a record high of 8,711.84 points, rising 0.76 percent.

At the opening, the BIST 100 index gained 65.72 points, or 0.76 percent, compared to the previous close, reaching 8,711.84 points.

The banking index rose by 0.09 percent and the holding index by 1.44 percent. Among sector indices, communication was the top gainer with 1.74 percent, while the only decliner was the securities investment trust index with 0.04 percent.

Yesterday, the BIST 100 index at Borsa Istanbul followed a bullish trend for the seventh consecutive trading day, closing the day at 8,646.12 points with a 1.76 percent gain, marking its all-time high close.

Analysts stated that global equity markets are seeing a mixed trend due to the possibility that the US Federal Reserve (Fed) may begin interest rate cuts later than anticipated, adding that the non-farm payroll data to be released in the US today is expected to influence the direction of the markets.

Noting that the domestic data agenda is quiet today, while the US employment report, the University of Michigan consumer confidence index, and factory orders data will be monitored abroad, analysts noted that technically, the 8,800 and 8,900 levels are resistance for the BIST 100 index, while 8,700 and 8,600 points are support levels.

News Source: AA