The stock market declined in the first half of the day – Last Minute Economic News
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BIST 100 index, which moved in a downward trend in the first half of the day, fell to 9,548.32 points as of 13.00, a decrease of 131.47 points compared to the previous close. The total transaction volume was 46.6 billion lira.
The banking index lost 3.94 percent and the holding index lost 1.35 percent.
Among the sector indices, the one that gained the most was sports with 2.49 percent, and the one that decreased the most was informatics with 4.28 percent.
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.
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 the developments in the IMF meetings abroad and Powell’s speech as well as the intense data agenda will be followed in the afternoon, and noted that technically, 9,500 and 9,400 points in the BIST 100 index are support, and 9,700 and 9,800 levels are resistance.
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