Stock market ends the day at its highest level

The BIST 100 index rose by 106.78 points compared to the previous close, with a total trading volume of 120.9 billion liras.

The banking index gained 0.12 percent, while the holding index rose by 1.73 percent.

Among sector indices, the food and beverage sector was the top gainer with 3.32 percent, while the insurance sector was the only one to decline, falling by 5.10 percent.

Analysts stated that signals indicating that economic activity in the US remains strong continue to persist, noting that this situation is causing Federal Reserve officials to remain cautious in their statements.

INFLATION COMMENTARY FROM CBRT GOVERNOR KARAHAN

Meanwhile, the new Governor of the Central Bank of the Republic of Turkey (CBRT), Fatih Karahan, stated at his first "Inflation Report" meeting that the reflection of monetary tightening on pricing behavior was stronger than they had anticipated.

Stating that the year-end inflation forecasts for 2024, 2025, and 2026 were maintained as they were in the previous report, Karahan noted that the year-end forecast for 2024 is 36 percent, and the year-end forecast for 2025 is 14 percent.

Analysts, who noted that industrial production will be in focus domestically tomorrow and inflation in Germany will be in focus abroad, stated that from a technical perspective, 8,960 and 9,000 points are resistance levels for the BIST 100 index, while 8,750 and 8,620 levels are support levels.

News Source: AA