Stock market opens higher after 'Black Monday'

At the opening, the BIST 100 index rose by 79.27 points and 0.80 percent compared to the previous close, reaching 9,960.50 points.

The banking index gained 0.97 percent and the holding index gained 0.82 percent. While all sector indices rose, the financial leasing and factoring sector was the top gainer with 1.77 percent.

The BIST 100 index at Borsa Istanbul, which followed a downward trend yesterday, closed the day at 9,881.23 points, losing 0.12 percent in value compared to the previous close.

Global markets are showing a positive trend following "dovish" statements from Fed officials and assurances from Bank of Japan (BoJ) officials that the BoJ will not raise interest rates if markets remain unstable.

Analysts stated that risk perception in the markets has decreased due to the reassuring statements from central bank officials.

Expressing that recession concerns in the markets might be exaggerated, analysts noted that there is not enough evidence to require the Fed to cut interest rates urgently.

Analysts stated that the treasury cash balance will be monitored domestically today, and noted that from a technical perspective, 10,100 and 10,200 points are resistance levels for the BIST 100 index, while 9,800 and 9,750 points are support levels.

News Source: 12punto