Stock market opens with gains (May 28, 2024)

The stock market opened with gains.

At the opening, the BIST 100 index rose by 21.79 points, or 0.20 percent, compared to the previous close, reaching 10,678.75 points.

The banking index gained 0.25 percent and the holding index gained 0.26 percent. Among sector indices, the communication sector was the top gainer with 1.36 percent, while the securities investment trust sector was the top loser with 1.39 percent.

The BIST 100 index at Borsa Istanbul closed yesterday at 10,656.96 points, down 0.18 percent.

Analysts stated that global equity markets are following a positive trend as optimism remains that the US Federal Reserve (Fed) will begin interest rate cuts this year.

Noting that the domestic data agenda is quiet today, while abroad, the US housing price index, the New York Fed consumer confidence index, and the Dallas Fed manufacturing index data will be monitored, analysts recorded that from a technical perspective, the 11,100 and 11,200 levels are resistance points for the BIST 100 index, while 10,700 and 10,600 points are support levels.

News Source: AA