Stock market opens with gains (June 11, 2024)

The stock market opened with gains.

At the opening, the BIST 100 index rose by 5.50 points and 0.05 percent compared to the previous close, reaching 10,003.41 points.

The banking index decreased by 0.22 percent, and the holding index fell by 0.07 percent. Among sector indices, the information technology sector was the top gainer with 1.66 percent, while the securities investment trust sector was the biggest loser with 2.15 percent.

Yesterday, the BIST 100 index at Borsa Istanbul followed a downward trend, closing the day with a 1.39 percent decline at 9,997.91 points. Thus, the index recorded a decline for five consecutive trading days for the first time since March.

Analysts stated that global equity markets are following a cautious trend ahead of the monetary policy decisions to be taken by the US Federal Reserve (Fed) tomorrow and the inflation data to be announced in the US.

On the other hand, Vice President Cevdet Yılmaz said yesterday, "We are continuing our path with a growth composition that is not consumption-oriented, but rather focused on production, exports, and investment. While fighting inflation, we are also striving to maintain growth and employment."

WILL THERE BE A TAX ON STOCK MARKET GAINS?

Stating that there is no tax on stock market gains, Yılmaz made the following assessments:

"Speculations on this matter should not be given any credence. There are discussions about whether or not a fee will be charged on transactions, which would be very nominal, such as 'one or two in ten thousand'."

Analysts noted that retail sales will be monitored domestically today, while the data agenda abroad is quiet, and pointed out that from a technical perspective, 9,900 and 9,800 points are support levels for the BIST 100 index, while 10,100 and 10,200 levels are resistance levels.

News Source: 12punto