Stock market rose in the first half of the day

The BIST 100 index at Borsa Istanbul gained 1.37 percent in the first half of the day, rising to 9,196.35 points.

Following an upward trend in the first half of the day, the BIST 100 index increased by 124.28 points compared to the previous close as of 13:00, reaching 9,196.35 points. The total trading volume was 62.7 billion liras.

While the banking index gained 0.41 percent and the holding index gained 1.31 percent, all sector indices recorded increases. The top gainer was the securities investment trust sector with a 2.68 percent rise.

Analysts stated that global equity markets followed a positive trend led by technology stocks, despite increasing speculation that expectations for the US Federal Reserve (Fed) to begin interest rate cuts might be delayed beyond the projected date.

Stating that despite inflation in the US exceeding expectations, technology companies reporting higher-than-expected profits have strengthened "soft landing" scenarios for the US economy, analysts noted that the rhetoric of Fed officials also supported risk appetite.

Emphasizing that while there is a busy data agenda domestically today, growth and industrial production data in the UK, and weekly jobless claims, industrial production, and capacity utilization rate data in the US will be closely monitored abroad, analysts noted that from a technical perspective, the 9,200 and 9,300 levels are observed as resistance points for the BIST 100 index, while the 9,100 and 9,000 levels are observed as support points.

News Source: AA