BIST 100 Started The New Week With An Increase

BIST 100 started the new week with an increase. The BIST 100 index in Borsa Istanbul increased by 0.54 percent and started the day from 1.449.10 points.

At the beginning of the day, the BIST 100 index gained 7.78 points and 0.54 percent compared to its previous closing and reached 1,449.10 points. At the opening, the banking index gained 0.63 percent, while the holding index gained 0.66 percent. Among the indices of the industry, mining was the most profitable with 1.50 percent, while the most decline was recorded on sports with 1.19 percent. The BIST 100 index at Borsa Istanbul ended the Wednesday, when it was traded half-day on the eve of Eid al-Fitr, with a value loss of 0.24 percent, at 1,441.33 points. Analysts stated that the signs of recovery in the economies shaken by the coronavirus (Covid-19) epidemic and the rise in commodity prices kept inflationary concerns on the agenda, and that this situation brought along the expectations that the US Federal Reserve (FED) could start the interest rate hike earlier, which increased the volatility in the stock and bond markets. Accordingly, it was noted that clues will be searched regarding the timing of tightening steps on the FED's Federal Open Market Committee (FOMC) meeting held on April 27-28, announced on Wednesday. It was also said that due to the hot conflict between Israel and Palestine, geopolitical risks and news flow on the issue will be closely monitored. In today's data calendar, it was reported that the domestic budget balance and the New York Fed Manufacturing Industry Index stood out in the USA. In technical terms, analysts stated that the level of 1.470 is in the resistance position, and the levels of 1.440 and 1.390 are in the support position for the BIST 100 index.