Stock market starts the first trading day of the week with a record

The stock market started the week with a record.

At the opening, the BIST 100 index rose by 76.83 points and 0.77 percent compared to the previous close, reaching 9,992.45 points.

The banking index recorded a 0.75 percent increase, and the holding index rose by 0.90 percent. Among sector indices, the textile and leather sector was the top gainer with 1.78 percent, while the sports sector was the only decliner with 3.70 percent.

On Friday, the BIST 100 index at Borsa Istanbul followed a bullish trend and closed the day with a 2.05 percent increase at 9,915.62 points.

Analysts stated that risk appetite in global equity markets has increased as corporate earnings exceeded estimates, despite the possibility of the US Federal Reserve (Fed) starting interest rate cuts being pushed toward the final quarter. They noted that this week, investors are focused on the Fed's interest rate decision, subsequent forward guidance from Fed Chair Jerome Powell, and a busy data agenda.

Analysts reported that domestic inflation data will be monitored this week, adding that the Turkey assessment report from international rating agency Standard & Poor's (S&P), expected to be released after markets closed on Friday evening, is also on investors' radar.

Meanwhile, Minister of Energy and Natural Resources Alparslan Bayraktar announced yesterday that negotiations are underway with the US energy company Exxon Mobil for approximately 2.5 million tons of liquefied natural gas (LNG) worth about 1.1 billion dollars.

Analysts stated that today's economic confidence index domestically, and inflation in Germany, consumer confidence index in the Eurozone, and the Dallas Fed manufacturing index in the US will be monitored abroad. They noted that from a technical perspective, the 10,000 and 10,100 levels are resistance points for the BIST 100 index, while 9,900 and 9,800 points serve as support.