Stock market opens with gains (September 13, 2024)

The stock market began the final trading day of the week with gains.

At the opening, the BIST 100 index rose by 16.16 points, or 0.17 percent, compared to the previous close, reaching 9,537.20 points.

While the banking index lost 0.01 percent in value, the holding index gained 0.21 percent. Among sector indices, the textile and leather sector was the top gainer with 0.73 percent, while the communication sector saw the largest decline at 0.86 percent.

Following a volatile session yesterday, the BIST 100 index at Borsa Istanbul closed the day with a 1.08 percent gain at 9,521.04 points.

In global markets, risk appetite has decreased due to rising "soft landing" expectations following the Producer Price Index (PPI) data released in the US yesterday, while a mixed trend prevails on the final trading day of the week.

Analysts stated that today's focus will be on the Central Bank of the Republic of Turkey (TCMB) Market Participants Survey domestically, and industrial production in the Eurozone and the University of Michigan consumer confidence index in the US internationally. They noted that, from a technical perspective, the 9,600 and 9,750 levels serve as resistance for the BIST 100 index, while the 9,450 and 9,400 point levels act as support.

News Source: AA