Stock market opens with gains (February 26, 2024)

At the opening, the BIST 100 index rose by 36.91 points, or 0.39 percent, compared to the previous close, reaching 9,411.11 points.

The banking index gained 0.11 percent, while the holding index rose by 0.28 percent. Among sector indices, the information technology sector was the top gainer with 1.55 percent, while the tourism sector was the only decliner, falling by 0.52 percent.

On Friday, the BIST 100 index at Borsa Istanbul followed a buying-weighted trend, closing the day with a 0.29 percent gain at 9,374.20 points, marking its highest closing level of all time. The index also set a new record for its highest intraday level at 9,416.70 points.

Analysts stated that in global equity markets, the risk appetite that increased last week following Nvidia's better-than-expected quarterly earnings report has given way to a cautious trend, noting that growth data from the US and domestically are now the focus of investors this week.

Meanwhile, on Friday, Minister of Treasury and Finance Mehmet Şimşek stated that Turkey has reached the final stage in the process of being removed from the Financial Action Task Force (FATF) grey list, saying, "The evaluation report to be prepared following the visit to Turkey by the FATF team will be discussed at the General Assembly meeting in June, and it is expected that the grey list decision regarding our country will be lifted at this meeting."

Turkey's 5-year credit default swap (CDS) premium, which continues its downward trend, has also fallen to 284 basis points.

News Source: AA