Stock market rises at midday

Moving with an upward trend in the first half of the day, the BIST 100 index rose by 62.63 points compared to the previous close, reaching 8,708.75 points as of 13:00. The total trading volume was 60 billion liras.

The banking index gained 0.27 percent, while the holding index gained 1.65 percent.

Yesterday, Borsa Istanbul's BIST 100 index followed a buying trend, extending its upward movement for the seventh consecutive trading day and closing the day with a 1.76 percent gain at 8,646.12 points, marking an all-time high close.

Analysts stated that global equity markets are following a mixed trend due to the possibility that the US Federal Reserve (Fed) may begin interest rate cuts later than anticipated, noting that domestic markets are decoupling positively.

Stating that the domestic data agenda is quiet today, while abroad, the US employment report, the University of Michigan consumer confidence index, and factory orders data will be monitored, analysts noted that from a technical perspective, the 8,800 and 8,900 levels are resistance, while 8,700 and 8,600 points are support levels for the BIST 100 index.

News Source: 12punto