Stock market rises in the first half of the day

Moving with an upward trend in the first half of the day, the BIST 100 index reached 7,774.14 points as of 13:00, an increase of 145.4 points compared to the previous close. The total trading volume was 49.1 billion liras.

The banking index gained 5.84 percent, while the holding index rose by 1.86 percent.

Among sector indices, banking was the top gainer, while the chemicals, petroleum, and plastics sector declined the most, falling by 0.80 percent.

Analysts stated that global equity markets began the week, in which US inflation data will be released, with a mixed trend, and noted that in addition to a busy domestic data agenda, the "Investor Days" meetings to be held by the Central Bank of the Republic of Turkey (CBRT) starting this week will be closely monitored.

Although expectations remain strong that major central banks worldwide are nearing the end of the hawkish policies they have maintained for nearly the last two years to combat inflation, uncertainties regarding the timing and scale of interest rate cuts are complicating pricing.

On the other hand, in addition to the Turkey assessment report expected from international credit rating agency Moody's on Friday evening, the first meeting of the Investor Days to be held by the CBRT at JPMorgan's headquarters in New York on January 11 will also be closely watched.

Analysts noted that the Treasury cash balance will be monitored domestically in the afternoon, while the data agenda abroad will be quiet, and stated that from a technical perspective, the 7,800 and 7,900 levels are resistance points for the BIST 100 index, while 7,600 and 7,500 points are support levels.

News Source: AA