Stock market starts the first trading day of the week with a record (Monday, April 8)

The stock market started the week with a record.

At the opening, the BIST 100 index gained 20.40 points, or 0.21 percent, compared to the previous close, reaching 9,639.23 points.

The banking index rose by 0.33 percent and the holding index by 0.18 percent. Among sector indices, the forestry, paper, and printing sector gained the most with 1.75 percent, while the securities investment trust sector lost the most with 0.23 percent.

On Friday, the BIST 100 index at Borsa Istanbul followed a bullish trend and closed the day at a record level of 9,618.83 points, with a gain of 5.37 percent.

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

Noting that industrial production data will be monitored domestically today, and foreign trade balance and industrial production in Germany, as well as consumer inflation expectations in the US will be followed abroad, analysts recorded that technically, the 9,700 and 9,800 levels are resistance, while 9,600 and 9,500 points are support for the BIST 100 index.

News Source: AA