BIST 100 Index closes the day with gains

The BIST 100 index closed the day at 10,024.31 points, gaining 1.64 percent. The index, which moved with an upward trend throughout the day, reached a total trading volume of 92.6 billion liras.

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BIST 100 Index closes the day with gains

The BIST 100 index at Borsa Istanbul closed the day at 10,024.31 points, gaining 1.64 percent. The BIST 100 index, which moved with an upward trend throughout the day, finished the day with an increase of 143.08 points, or 1.45 percent, at 10,024.31 points. The total trading volume was 92.6 billion liras.

The index saw a high of 10,076.40 during the day, while it fell to a low of 9,902.19 points.

While the banking index closed the day down by 0.11 percent, the sector index that rose the most was transportation with 5.49 percent.

GLOBAL MARKETS ALSO TURN POSITIVE

In global markets, it appears that the turbulence caused by a sharp wave of selling on the first trading day of the week—triggered by concerns that the US would enter a recession combined with the unwinding of carry trades in Japan—has been left behind.

Markets are trending positively following "dovish" statements from Fed officials and assurances from Bank of Japan (BoJ) officials that the BoJ will not raise interest rates if markets remain unstable.

Analysts stated that risk perception in the markets has decreased following the reassuring statements from central bank officials.

Expressing that recession concerns in the markets might be exaggerated, analysts noted that there is not enough evidence to require the Fed to cut interest rates urgently.

Domestically, the 2024 3rd Inflation Report presentation will be made tomorrow by CBRT Governor Dr. Fatih Karahan.

Technically, it was pointed out that 10,100 and 10,200 points are resistance levels for the BIST 100 index, while 9,800 and 9,750 points are support levels.

News Source: 12punto