How did the stock market close? (March 18, 2024)

The BIST 100 index decreased by 110.59 points from the previous close, with a total trading volume of 72 billion lira. The banking index gained 0.66 percent, while the holding index lost 2.46 percent.

Among sector indices, the securities investment trust sector was the top gainer with 1.13 percent, while the sports sector saw the largest decline with 4.92 percent.

Analysts stated that global equity markets began the week on a positive note ahead of interest rate decisions from the central banks of the US, UK, and Japan, adding that domestic investors are now focused on the monetary policy decisions to be made by the Central Bank of the Republic of Turkey (TCMB).

Noting that the domestic data agenda will be quiet tomorrow, while the Bank of Japan's (BoJ) interest rate decision, US housing starts and building permits, and Germany's ZEW indices will be in focus abroad, analysts mentioned that it is estimated the BoJ could raise its policy rate for the first time in 17 years.

Analysts expressed that expectations for the BoJ to end its negative interest rate policy have strengthened following the announcement of the strongest wage agreements in the last thirty years by Japan's largest trade union group, and noted that from a technical perspective, the 8,700 level is support for the BIST 100 index, while 9,100 and 9,200 points serve as resistance levels.