Stock market opens higher (May 17, 2024)

The stock market opened the day with gains.

At the opening, the BIST 100 index rose by 49.90 points, or 0.48 percent, compared to the previous close, reaching 10,369.87 points.

The banking index gained 0.27 percent, and the holding index rose by 0.96 percent. Among sector indices, the sports sector was the top gainer with 2 percent, while the real estate investment trust sector was the biggest loser, down 0.11 percent.

The BIST 100 index at Borsa Istanbul closed yesterday at 10,319.96 points, up 1.59 percent.

Global markets are showing a mixed trend as U.S. Federal Reserve (Fed) officials continue to maintain a cautious stance and as signals from released data are evaluated.

Analysts noted that today's agenda includes the Central Bank of the Republic of Turkey (TCMB) Market Participants Survey, housing sales statistics, the housing price index, and short-term external debt statistics domestically, while the Eurozone CPI and leading index data from the U.S. will be monitored abroad. From a technical perspective, they stated that the 10,400 and 10,500 levels are resistance points for the BIST 100 index, while 10,250 and 10,100 points serve as support levels.

News Source: AA