Stock market opens with gains (October 22, 2024)

The stock market opened with gains.

At the opening, the BIST 100 index rose by 23.36 points and 0.27 percent compared to the previous close, reaching 8,677.75 points.

The banking index gained 0.28 percent and the holding index gained 0.33 percent.

While all sector indices posted gains, the financial leasing and factoring sector was the top performer with a 0.42 percent increase.

Following a sell-heavy trend yesterday, the BIST 100 index at Borsa Istanbul closed the day down 1.58 percent at 8,654.39 points.

In global markets, a mixed trend prevails due to the impact of a cautious stance during the intensifying earnings season, while expectations that the US economy could achieve a "soft landing" remain strong.

Analysts stated that the domestic data agenda will be quiet today, while abroad, the Richmond Fed manufacturing index in the US and statements by European Central Bank (ECB) President Christine Lagarde will be monitored. They noted that from a technical perspective, the 8,800 and 9,000 levels are resistance for the BIST 100 index, while 8,600 and 8,490 points are support levels.

News Source: AA