Stock market closes the day with a decline

The BIST 100 index decreased by 80.83 points compared to the previous close, with a total trading volume of 135.3 billion liras.

While the banking index gained 0.11 percent, the holding index lost 2.59 percent.

Among sector indices, the communication sector was the top gainer with 3.60 percent, while the chemical, petroleum, and plastic sector was the top loser with 2.67 percent.

Analysts stated that global equity markets followed a mixed trend following the data released in the US.

Noting that a busy data agenda will be monitored next week, including inflation data domestically and the employment report in the US as well as the European Central Bank's (ECB) interest rate decision abroad, analysts recorded that from a technical perspective, the 10,600 and 10,700 levels are resistance, while 10,300 and 10,200 points are support levels for the BIST 100 index.

Economists participating in the AA Finance Inflation Expectation Survey estimate that the Consumer Price Index (CPI) will increase by 3.04 percent in May.

According to the average of economists' inflation expectations for May, annual inflation, which was 69.80 percent the previous month, is projected to rise to 74.89 percent.

News Source: AA