BIST 100 Index Started Wednesday Horizontally

BIST 100 index started Wednesday horizontally. BIST 100 index in Borsa Istanbul started the day flat with 1.532.93 points.

At the beginning of the day, the BIST 100 index, which recorded a limited decrease of 0.11 points and 0.01 percent compared to the previous close, fell to 1,532.93 points. While the banking index depreciated by 0.18 percent at the opening, the holding index gained 0.02 percent. While forest, paper and printing were the highest earners among the sector indices with 0.55 percent, most decline was recorded on real estate investment trusts with 0.70 percent. Although the BIST 100 index started the day with an upward trend, it gave back its close gains due to the weak risk appetite globally and closed the day with a 0.21% depreciation at 1,533.05 points. Thus, the BIST 100 index ended its upward trend that lasted for 10 consecutive trading days. Analysts stated that investors acted cautiously before the US Federal Reserve's (FED) interest rate decision, which will be announced today, and stated that the bank is expected to take its first step back by reducing asset purchases within the scope of monetary incentives introduced during the epidemic period. Stating that investors are focused on whether to give any clues about the timing of the rate hike, analysts said that the text of the decision and the tone to be used in the statements of FED Chairman Jerome Powell will be important for the future direction of the markets. It was stated that the data agenda is also intense today, and inflation in the country, ADP private sector employment and factory orders in the USA, unemployment rate in the Eurozone and the Purchasing Managers Index of the services sector worldwide will be monitored closely. In technical terms, it was stated that the level of 1.550 is in a position of resistance and the level of 1.490 stands out as the support for the BIST 100 index.