Stock market ends the day at a record high

The BIST 100 index closed the day at a record level of 10,082.77 points. Increasing by 167.15 points compared to the previous close, the total trading volume reached 108.8 billion lira.

The banking index gained 1.90 percent, while the holding index rose by 2.15 percent.

TRANSPORTATION WAS THE TOP GAINER

Among sector indices, transportation was the top gainer with 2.90 percent, while sports was the top loser with 6.29 percent.

Analysts stated that in global equity markets, risk appetite has increased as corporate earnings exceeded estimates, despite the possibility of the US Federal Reserve (Fed) starting interest rate cuts being pushed toward the final quarter. They noted that this week's interest rate decision, Fed Chair Jerome Powell's forward guidance, and a busy data agenda are at the center of investors' focus.

Analysts, who reported that inflation data will be monitored domestically this week, also stated that the Turkey assessment report expected from the international rating agency Standard & Poor's (S&P) after markets close on Friday is also on the investors' radar.

2.5 MILLION TONS OF LNG

On the other hand, Minister of Energy and Natural Resources Alparslan Bayraktar announced yesterday that negotiations are underway with the US energy company Exxon Mobil for 2.5 million tons of liquefied natural gas (LNG) worth approximately 1.1 billion dollars.

Analysts, who noted that the foreign trade balance domestically, and the manufacturing Purchasing Managers' Index (PMI) in China, growth and inflation in the Eurozone, growth in Germany, and the consumer confidence index and housing price index in the US will stand out abroad, recorded that from a technical perspective, the 10,100-10,200 levels are resistance, and 9,700 and 9,600 points are support levels for the BIST 100 index.

News Source: AA