Borsa Istanbul Begins the Day with a Rise: The Leading Sector in Gains

Borsa Istanbul witnessed a buying-dominated trend yesterday, with the BIST 100 index closing the day with a 3.54% value gain, standing at 9,054.18 points.

According to analysts, following remarks by the US Federal Reserve (Fed) Chair Jerome Powell indicating that they are far from considering a loose monetary policy, a positive trend was observed in global stock markets. Anticipation is now focused on the upcoming assessment report on Turkey by the international rating agency Fitch Ratings, which is expected to be announced tonight.

Analysts reminded that the risk appetite in stock markets increased after Powell's dovish guidance. They pointed out that today's employment report data in the US could send signals about the trajectory of the labor market, which might influence the future steps of the Fed.

Analysts also noted that besides the Fitch Ratings report, investors are tracking data on industrial production and producer inflation in Germany, growth in the Eurozone, and the US employment report figures.

From a technical standpoint, analysts have identified the 9,000 and 8,900 levels as supportive for the BIST 100 index, while resistance is expected around the 9,200 and 9,300 levels.

BIST, BorsaIstanbul, Markets