Stock market rose in the first half of the day!

Moving with an upward trend in the first half of the day, the BIST 100 index rose by 79.33 points compared to the previous close, reaching 8,089.47 points as of 13:00. The total trading volume was 42.6 billion lira.

While the banking index lost 2.02 percent in value, the holding index gained 0.68 percent.

US ECONOMY REFLECTED POSITIVELY ON THE DOMESTIC MARKET

Analysts stated that the positive trend that began in global markets with the strengthening of "soft landing" scenarios for the US economy has also carried over to domestic markets.

Stating that expectations that central banks will begin interest rate cuts in March continue to lose strength, analysts reported that hopes that the economy could overcome this period without entering a recession are supporting risk appetite.

Analysts noted that the Richmond Fed manufacturing index in the US and the consumer confidence index in the Eurozone will be monitored for the remainder of the day, and stated that from a technical perspective, the 8,200 and 8,300 levels are resistance, while 8,060 and 8,000 points are support levels for the BIST 100 index.

News Source: 12punto