The Donald Trump effect on the BIST
The BIST 100 index at Borsa Istanbul opened the day with a 0.12 percent increase at 8,873.32 points. Donald Trump's victory in the US presidential election and the monetary policy decision to be announced by the US Federal Reserve (Fed) this evening will be decisive for the current state of the market.
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At the opening, the BIST 100 index rose by 11.00 points and 0.12 percent compared to the previous close, reaching 8,873.32 points.
While the banking index gained 0.25 percent in value, the holding index lost 0.24 percent.
Among sector indices, the securities investment partnership index was the top gainer with 0.93 percent, while the holding index was the top loser.
The BIST 100 index at Borsa Istanbul, which followed a bullish trend yesterday, completed the day with a 2.83 percent gain at 8,862.32 points.
While global markets have followed a mixed trend following Donald Trump's victory in the US presidential election, the monetary policy decision to be announced by the US Federal Reserve (Fed) this evening has become the focus of investors.
In the 60th presidential election held in the US on November 5, Republican candidate Donald Trump was elected the 47th President of the US, defeating his rival, the Democratic Party's presidential candidate Kamala Harris, by a margin of approximately 5 million votes. Trump will take the oath of office in January and begin his term at the White House.
With the uncertainties on the political front left behind, eyes have turned to the Fed, and the policies the bank will follow under Trump's presidency are also a subject of curiosity.
Analysts noted that they will be looking for clues regarding future policies in the decision text to be released from today's meeting and the statements of Fed Chair Jerome Powell, stating that the signals received could increase volatility in asset prices.
Stating that concerns that the policies expected to be pursued by Trump could have stronger inflationary effects have come to the fore, analysts expressed that this situation could lead the Fed to take slower steps in interest rate cuts.
In pricing in money markets, a 25 basis point cut in the Fed's policy rate is seen as a certainty.
Analysts stated that weekly money and bank statistics domestically, and the interest rate decisions of the Bank of England (BoE) and the Fed, as well as a busy data agenda abroad, will be followed today, noting that technically, 8,900 and 9,000 points are resistance levels for the BIST 100 index, while 8,800 and 8,700 levels are in the support position.