Stock market starts the first trading day of the week with a decline (June 10, 2024)

The stock market started the week with a decline.

At the opening, the BIST 100 index fell by 6.55 points and 0.06 percent compared to the previous close, dropping to 10,132.42 points.

The banking index recorded a decrease of 0.20 percent, and the holding index fell by 0.17 percent. Among sector indices, mining was the top gainer with 2 percent, while forestry, paper, and printing was the top loser with 0.92 percent.

On Friday, the BIST 100 index at Borsa Istanbul followed a selling trend and completed the day with a 1.37 percent decrease at 10,138.97 points.

Analysts stated that global equity markets began the week with a negative trend following the European Parliament (EP) election results held over the weekend, coming after the non-farm payroll data in the US that exceeded expectations on Friday, and noted that the interest rate decisions of the US Federal Reserve (Fed) and the Bank of Japan (BoJ) have become the focus of investors this week.

Analysts, who noted that industrial production, balance of payments, and unemployment rate data will be monitored domestically today, and the Sentix investor confidence index in the Eurozone will be followed abroad, recorded that technically, 10,100 and 10,000 points are support levels for the BIST 100 index, while 10,200 and 10,300 levels are in the position of resistance.

Economists participating in the AA Finance expectation survey estimated that the current account deficit was 6 billion 132.4 million dollars in April.

News Source: AA