Stock market started the day with an increase

At the opening, the BIST 100 index rose to 7,622.69 points, with an increase of 93.38 points and a gain of 1.24 percent compared to the previous closing.

The banking index increased by 1.95 percent and the holding index increased by 1.05 percent. Among the sector indices, banking was the one that gained the most, while the one that decreased the most was securities investment trust with 0.42 percent.

BIST 100 index in Borsa Istanbul, which followed a sales-oriented trend yesterday, finished the day at 7,529.31 points with a 2.83 percent loss in value.

Analysts stated that a positive trend was observed in global equity markets after the Fed signaled that it may start reducing interest rates next year, and said that the interest rate decisions of European and British central banks are now in the focus of investors.

Following the decision, Fed Chairman Jerome Powell stated that they believed that the policy rate was probably at or near the peak in the tightening cycle, and that although bank officials did not find it appropriate to increase interest rates further, they did not want to take this possibility off the table.

On the other hand, Turkey’s 5-year credit risk premium (CDS) continues to move in a downward trend and reached its lowest daily closing since March 19, 2021, with 316.8 basis points yesterday.

Analysts reminded that international credit rating agency Moody’s evaluation of Turkey was expected after the markets closed on Friday, December 15, and stated that the possibility that Moody’s could improve Turkey’s credit rating and rating outlook had a positive impact on pricing.

In addition, while a new one is added every day to the reports announced by foreign financial institutions regarding Turkish lira assets, it was stated that the carry trade opportunity in TL came to the fore in the “CEEMEA Strategy Notes” report prepared by Deutsche Bank yesterday.

Analysts stated that weekly money and bank statistics in the country, interest rate decisions of the UK and European central banks abroad, retail sales in the USA and weekly unemployment benefit applications data will be followed today. Technically, the 7,700 and 7,800 levels in the BIST 100 index are resistance, and the 7,600 and 7,500 levels are resistance. He noted that the score is in a support position.