Stock market hits record high in the first half of the day

The BIST 100 index, which saw an all-time high of 9,735.75 points in the first half of the day, stood at 9,714.98 as of 1:00 PM, gaining 96.15 points and 1.00 percent compared to the previous close. The total trading volume reached 54.6 billion liras.

The banking index gained 1.08 percent, while the holding index rose by 0.41 percent. While all sector indices rose, the information technology sector was the top gainer with 3.73 percent.

Analysts stated that global equity markets started the week with a mixed trend following continued uncertainty regarding the timing and magnitude of interest rate cuts by the US Federal Reserve (Fed), noting that a busy data agenda, primarily the inflation data to be released in the US this week and the European Central Bank's (ECB) interest rate decision, has become the focus of investors.

Stating that consumer inflation expectation data from the US will be monitored in the afternoon, analysts noted that from a technical perspective, the 9,800 level is resistance for the BIST 100 index, while 9,600 and 9,500 points are in the support position.

News Source: AA