Stock market opens with gains

At the opening, the BIST 100 index rose by 37.61 points, or 0.39 percent, compared to the previous close, reaching 9,737.17 points.

The banking index gained 0.44 percent, and the holding index rose by 0.30 percent. Among sector indices, the communication sector was the top gainer with 0.87 percent, while the insurance sector was the only decliner, falling by 0.51 percent.

The BIST 100 index at Borsa Istanbul, which followed a downward trend yesterday, closed the day with a 0.73 percent loss at 9,699.56 points.

Global markets are showing a positive trend as inflation data to be released in the US tomorrow supports the possibility that the US Federal Reserve (Fed) may begin interest rate cuts with a 50 basis point reduction.

Analysts, noting that industrial production and unemployment rate data will be monitored domestically today, stated that from a technical perspective, the 9,800 and 10,000 levels are resistance points for the BIST 100 index, while the 9,600 and 9,500 point levels serve as support.

News Source: AA