Stock market remained flat in the first half of the day: reached 10,903 points

Moving with an upward trend in the first half of the day, the BIST 100 index rose by 4.25 points to 10,903.53 points as of 13:00, compared to the previous close. The total trading volume was 57.6 billion liras.

The banking index rose by 0.68 percent, and the holding index rose by 0.16 percent.

Among sector indices, the sports sector gained the most with 3.01 percent, while the chemicals, petroleum, and plastics sector declined the most with 1.36 percent.

Analysts stated that global equity markets followed a mixed course after chipmaker Nvidia announced record-level revenue, despite the minutes of the latest US Federal Reserve (Fed) meeting indicating that the policy interest rate could remain at high levels for longer than expected. They noted that eyes in the domestic market are now turned to the interest rate decision of the Central Bank of the Republic of Türkiye (TCMB).

While all economists participating in the AA Finans expectation survey expect the TCMB to keep the policy interest rate constant at 50 percent, the median of the economists' year-end policy interest rate expectations was calculated as 45 percent.

On the other hand, Türkiye's 5-year credit default swap (CDS) continued its downward trend, falling to 263.1 basis points, its lowest level since February 2020.

Analysts, who stated that in addition to the TCMB's interest rate decision, weekly money and bank statistics will be monitored domestically, and weekly jobless claims and preliminary Purchasing Managers' Index (PMI) data will be followed abroad, noted that technically, the 11,000 and 11,200 levels are resistance, and 10,850 and 10,700 points are support positions for the index contract.

News Source: AA