Stock market in Istanbul starts new day with increase

The BIST 100 index at Borsa Istanbul started Wednesday, July 17, 2024, with a 0.12 percent increase, reaching 11,152.32 points.

At the opening, the BIST 100 index increased by 12.99 points, or 0.12 percent, compared to the previous closing, reaching 11,152.32 points.

The banking index rose by 0.04 percent, while the holding index increased by 0.12 percent. Among the sector indices, the securities investment trust index showed the largest gain, rising by 1.27 percent, whereas the tourism index recorded the biggest loss, declining by 0.30 percent.

Following a positive trend observed yesterday, the BIST 100 index at Borsa Istanbul closed the day at 11,139.34 points, marking a 0.67 percent increase. This resulted in a record closing, reaching its peak level of 11,188.12 points.

Analysts noted that despite increased risk appetite in the US stock markets due to expectations of two interest rate cuts by the US Federal Reserve (Fed) this year, uncertainties surrounding upcoming elections in the country highlighted the search for direction in Asia and Europe.

Today, analysts anticipate a busy data schedule, particularly focusing on housing sales statistics in the country, inflation in the Eurozone, construction permits in the USA, and the Fed's Beige Book Report. Technically, they highlighted resistance levels at 11,250 and 11,350 points for the BIST 100 index, with support levels noted at 11,000 and 10,900 points.