Borsa Istanbul opens the day with gains

The BIST 100 index at Borsa Istanbul rose by 21.48 points, or 0.26 percent, compared to the previous close, reaching 8,191.37 points.

The banking index gained 0.31 percent, and the holding index rose by 0.26 percent. Among sector indices, food and beverage was the top gainer with 0.78 percent, while sports was the only decliner, falling by 0.06 percent.

Yesterday, the BIST 100 index at Borsa Istanbul followed a bullish trend, closing the day with a 0.98 percent gain at 8,169.89 points.

MIXED TREND OBSERVED

Analysts stated that global equity markets are following a mixed trend following signals from released macroeconomic data and corporate financial results.

Noting that positive signals from economic activity despite the slowdown in inflation in the US have increased the likelihood of a "soft landing" for the economy, analysts mentioned that expectations in money markets that the US Federal Reserve (Fed) could begin interest rate cuts in March have regained strength.

On the other hand, yesterday the Central Bank of the Republic of Türkiye (TCMB) raised its policy rate by 250 basis points to 45 percent. The announcement from the TCMB stated, "The Committee assessed that the level of monetary tightness required to establish disinflation has been reached and that this level will be maintained as long as necessary."

Analysts noted that the domestic data agenda is quiet today, while consumer confidence index data in Germany and personal income and expenditure data in the US will be monitored abroad, adding that technically, the 8,250 and 8,350 levels are resistance points for the BIST 100 index, while 8,100 and 8,000 points are support levels.