BIST 100 Index Closed Friday with a Fall

BIST 100 index closed Friday with a fall. BIST 100 index in Borsa Istanbul ended the day at 1,776.41 points, depreciating by 2.35 percent.

At the end of the day, the total transaction volume in the BIST 100 index, which recorded a decrease of 42.82 points compared to the previous closing, was recorded as 33.4 billion liras. While the banking index depreciated by 3.40 percent at the close, the holding index also lost 2.90 percent. Among the sector indices, informatics was the most profitable with 3.31 percent, while the most decline was recorded on transportation with 8.71 percent. Analysts said that after the detection of a new variant of the coronavirus that has mutated in large numbers in the Republic of South Africa and Botswana, the flight bans that came to the agenda again increased concerns about economic activity, and this situation brought sales pressure in the stock markets. In addition to the concerns about Covid-19, high inflation and, in parallel with this, the expectations that the US Federal Reserve (FED) may end its asset purchases earlier than expected and increase interest rates 2-3 times next year, decreases by more than 3 percent in European and Asian stock markets. Stating that the presentation of Jerome Powell and the US Treasury Secretary Janet Yellen to the Presidency of the US Federal Reserve and the Beige Book report to be announced by the Fed will be followed, analysts said that the US employment report, factory orders, ADP employment report, PMI data to be announced worldwide, PPI and retail sales in the Eurozone will be monitored closely. In technical terms, it was stated that the level of 1.830 is in a position of resistance and the level of 1.760 stands out as the support for the BIST 100 index.