Borsa Istanbul is in decline – Last Minute Economic News
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BIST 100 index lost 34.79 points and 0.36 percent in value compared to the previous closing, falling to 9,645.01 points.
The banking index decreased by 0.05 percent and the holding index decreased by 0.48 percent. Among the sector indices, the biggest gainer was mining with 0.93 percent, while the biggest loser was securities investment trust with 1.04 percent.
BIST 100 index at Borsa Istanbul, which followed a sell-off trend yesterday, finished the day with a 1.37 percent loss of value at 9,679.80 points.
Analysts stated that a negative trend was observed in the global equity markets due to the ongoing tension in the Middle East and the strengthening of concerns that the US Federal Reserve (Fed) may keep the policy interest at higher levels for longer than expected, adding that today, with the statements of Fed Chairman Jerome Powell, the intense data agenda He said that it has become the focus of investors.
IMF-WORLD BANK MEETINGS ARE BEGINNING
Today, developments and participants’ statements at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank will also be closely followed. Minister of Treasury and Finance Mehmet Şimşek will attend the meetings on behalf of Turkey. Şimşek will be accompanied by Fatih Karahan, President of the Central Bank of the Republic of Turkey (CBRT).
Analysts stated that retail sales in the country, developments in the IMF meetings abroad and Powell’s speech as well as the intense data agenda will be followed today, and noted that technically, 9,600 and 9,500 points in the BIST 100 index are support and 9,700 and 9,800 levels are resistance.
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