Istanbul Stock Exchange Starts the Week with Index Growth

The Istanbul Stock Exchange started this week's trading with an upward trend, and the BIST 100 index rose by 0.26% at the opening, reaching 10,869 points.

At the start of trading, the BIST 100 index increased by 28.41 points compared to the last working day of the previous week, reaching 10,869.00 points.

Additionally, the banking index rose by 0.21% and the holding companies index increased by 0.72%.

Performance of Various Market Sectors

Among the various industry indices, the construction sector recorded the best performance with a 1.10% increase, while the mining sector experienced the highest decline with a 1.78% drop.

A Look at Last Week’s Trading Trend

The Istanbul Stock Exchange ended Friday's session positively, closing the day with a 1.05% increase, and the BIST 100 index settled at 10,840 points.

Positive Trend in Global Markets

In international markets, data from the United States shows that the inflation rate remains under control. Moreover, new decisions by the Chinese government to provide economic stimulus have boosted the positive atmosphere in global markets.

"Analysts believe that recent economic data from the U.S. and China’s supportive policies could strengthen the upward trend in the markets in the short term."

Restrictions Applied to Today’s Trading

On the other hand, the Istanbul Stock Exchange announced that today, in trades related to stocks included in the BIST 50 index, the up-tick rule will be applied for one day to prevent short selling.

Market Outlook Ahead

According to analysts, today the domestic market will monitor developments related to the budget balance, while in foreign markets, data on retail sales and the New York Fed manufacturing activity index will be among the key points of focus for investors.

From a technical perspective, analysts believe that the BIST 100 index faces resistance between 10,900 and 11,000 points, while the 10,800 and 10,700 points levels could act as key supports.