Borsa İstanbul opens with limited gains: Eyes on CBRT and data agenda for BIST 100

The BIST 100 index at Borsa İstanbul began the new trading day with a limited rise. At the opening, the index increased by 14.05 points, or 0.10 percent, compared to the previous close, reaching 14,124.18 points.

The BIST 100, which followed a buying-weighted trend yesterday, closed the day with a 2.96 percent gain at 14,110.14 points. The index thus climbed above the 14,000-point level, recording its strongest daily rise since June 15.

At the opening, the banking index remained flat, while the holding index showed a 0.07 percent increase. Among sector indices, the textile and leather sector was the top gainer with 2.41 percent, while the trade index was the biggest decliner with 0.58 percent.

In global markets, it is noted that moderate inflation data from the US is supporting risk appetite. Conversely, the lack of a clear statement from the parties regarding a new ceasefire in the Middle East remains among the factors limiting optimism in the markets.

MARKETS TO MONITOR DATA AGENDA

Domestically, investors are focused on the Central Bank of the Republic of Turkey's (CBRT) third Inflation Report briefing meeting of the year. Additionally, balance of payments data and money and banking statistics are among the topics the markets will follow.

Economists participating in the AA Finance Balance of Payments Expectation Survey expect the current account balance to post a deficit of 4 billion 918.2 million dollars in June. The economists' year-end current account deficit forecast stands at 52 billion 391 million dollars.

Analysts state that a heavy flow of data will be monitored abroad today, primarily the Producer Price Index (PPI) in the US. From a technical perspective, 14,200 and 14,300 points stand out as resistance levels for the BIST 100 index, while 14,000 and 13,900 points are highlighted as support levels.

News Source: 12punto