Will the BIST 100 see 9,000 again?

At the opening, the BIST 100 index rose by 54.97 points and 0.62 percent compared to the previous close, reaching 8,953.20 points.

The banking index gained 0.93 percent, and the holding index gained 0.50 percent. Among sector indices, the top gainer was textile and leather with 1 percent, while the only decliner was sports with 0.66 percent.

Yesterday, the BIST 100 index at Borsa Istanbul, which followed a sell-weighted trend, completed the day with a 1.27 percent loss at 8,898.23 points.

In global markets, a cautious trend is being observed due to tensions in the Middle East and mixed signals regarding economic activity from data released in the US, while data from the US employment report has become the focus of investors today.

While optimism persists that the US economy could achieve a "soft landing," it is anticipated that signals from today's employment market data could increase volatility in the markets.

On the other hand, according to data released domestically yesterday, the Consumer Price Index (CPI) increased by 2.97 percent on a monthly basis in September, and the Domestic Producer Price Index (D-PPI) increased by 1.37 percent. Annual inflation fell to 49.38 percent in consumer prices and 33.09 percent in domestic producer prices.

Analysts stated that the real effective exchange rate will be monitored domestically today, while non-farm payrolls, the unemployment rate, and average hourly earnings will be followed in the US, noting that the 9,000 and 9,100 levels are resistance points for the BIST 100 index, while 8,850 and 8,700 points are support levels.

News Source: AA