Stock market opens with gains (June 4, 2024)

The stock market opened with gains.

At the opening, the BIST 100 index rose by 19.76 points and 0.19 percent compared to the previous close, reaching 10,576.56 points.

The banking index recorded a 0.01 percent increase, and the holding index rose by 0.28 percent. Among sector indices, the sports sector was the top gainer with 1.27 percent, while the metal goods and machinery sector was the top loser with 0.13 percent.

Yesterday, the BIST 100 index at Borsa Istanbul followed a bullish trend, closing the day with a 1.50 percent increase at 10,556.80 points.

Analysts stated that global equity markets are following a mixed trend following data indicating a slowdown in the U.S. economy, which expands the policy space for the U.S. Federal Reserve (Fed), and noted that a busy data agenda remains the focus of investors today.

On the other hand, the net reserves of the Central Bank of the Republic of Turkey (TCMB), excluding swaps, turned positive on Friday, May 31, reaching 1.5 billion dollars with an improvement of 66.5 billion dollars since March 29, 2024.

Analysts, who stated that the real effective exchange rate will be monitored domestically today, and the unemployment rate in Germany and JOLTS job openings, factory orders, and durable goods orders in the U.S. will be followed abroad, noted that from a technical perspective, the 10,600 and 10,700 levels are resistance, while 10,500 and 10,400 points are support levels for the BIST 100 index.