How did the stock market start the day? (March 26, 2024)

At the opening, the BIST 100 index rose by 0.12 points compared to the previous close, reaching 9,029.50 points.

The banking index decreased by 1.01 percent, while the holding index recorded an increase of 0.11 percent. Among sector indices, electricity was the top gainer with 1.41 percent, while banking was the biggest loser.

Yesterday, the BIST 100 index at Borsa Istanbul followed a volatile course and completed the day with a 0.90 percent loss at 9,029.38 points.

Analysts stated that in global equity markets, uncertainty regarding data to be released for the remainder of the week and the future policies of major central banks has dampened risk appetite.

While uncertainty continues regarding the timing and pace of interest rate cuts expected to begin this year by the Fed, the cautious tone in the forward guidance of US Federal Reserve (Fed) officials yesterday helped strengthen selling pressure in equity markets.

Analysts, noting that the domestic data agenda is quiet today, while abroad the GfK consumer confidence index in Germany, and durable goods orders, housing price index, consumer confidence index, and the Richmond Fed Manufacturing Index in the US will be monitored, recorded that technically, the 9,000 and 8,900 levels are support, while 9,200 and 9,350 points are resistance positions for the BIST 100 index.

News Source: AA