Stock market opens with a record (February 6, 2024)

At the opening, the BIST 100 index gained 33.99 points, or 0.39 percent, compared to the previous close, rising to 8,810.69 points.

The banking index rose by 0.31 percent and the holding index by 0.36 percent. Among sector indices, banking was the top gainer with 2.17 percent, while the only decliner was securities investment trusts with 0.18 percent.

Yesterday, the BIST 100 index at Borsa Istanbul, which followed a buying trend and extended its upward momentum for the 9th consecutive trading day, completed the day with a 1.28 percent gain at 8,776.70 points, achieving its highest daily close of all time. The index also pushed its all-time high to 8,784.21 points.

Analysts stated that global equity markets are seeing a sell-heavy trend due to concerns that signals of a resilient US economy will delay the start of interest rate cuts by the US Federal Reserve (Fed), while noting that China's announcement to support its equity markets has tempered risk perception in Asia.

Analysts noted that today's agenda includes the real effective exchange rate domestically, and factory orders in Germany and retail sales data in the Eurozone abroad, adding that from a technical perspective, the 8,850 and 8,900 levels are resistance, while 8,700 and 8,600 points are support for the BIST 100 index.

News Source: AA