BIST 100 Starts the New Week with a Decline

BIST 100 starts the new week with a decline. BIST 100 index depreciated by 0.21 percent in Borsa Istanbul and started the day with 1,388.20 points.

At the beginning of the day, the BIST 100 index, which lost value by 2.86 points and 0.21 percent compared to the previous close, fell to 1,388.20 points. While the banking index depreciated by 0.30 percent at the opening, the holding index depreciated by 0.54 percent. Among the sector indices, tourism was the highest earner with 2.49 percent, while the highest decline was recorded on holding and investment with 0.54 percent. BIST 100 index in Borsa Istanbul closed at 1,391.06 points, depreciating by 4.8 percent last week, with the effect of the selling wave that emerged in the global markets after the June meeting of the US Federal Reserve. Analysts stated that the markets, which focused on the direction of the reduction in asset purchases at the last meeting of the FED, were under selling pressure with the predictions about the timing of the interest rate hike, and this shock effect was carried into the new week. Analysts emphasized that the sensitivity of the markets to all kinds of data and explanations that may affect inflation and interest expectations has increased in the next period, and that the presentation of FED Chairman Jerome Powell in the House of Representatives tomorrow is important and said that the Chicago FED Activity Index and the speech of the President of the European Central Bank, Christine Lagarde, will be monitored closely. In technical terms, analysts noted that if the BIST 100 index closes below 1,390 points, the levels of 1.370 and 1.350 may come to the fore, while the level of 1.470 stands out as resistance.