Stock market opens with gains (May 14, 2024)

Stock market opens with gains

At the opening, the BIST 100 index rose by 42.63 points, or 0.42 percent, compared to the previous close, reaching 10,098.61 points.

The banking index gained 1.99 percent, while the holding index rose by 0.14 percent. Among sector indices, banking was the top gainer, while construction was the top loser with a 1.67 percent decline.

The BIST 100 index at Borsa Istanbul closed yesterday at 10,055.98 points, down 1.59 percent.

While signals from inflation data to be released in the US economy starting today are expected to increase market volatility, eyes are turned today to the forward guidance from US Federal Reserve (Fed) Chair Jerome Powell.

Analysts noted that the domestic data agenda is quiet today, while abroad, the ZEW economic sentiment index in Germany and the Eurozone, the Producer Price Index (PPI) in the US, and the statements to be made by Fed Chair Powell will be monitored. From a technical perspective, they noted that the 10,200 and 10,300 levels are resistance, while 10,000 and 9,900 points are support for the BIST 100 index.

News Source: AA