BIST 100 Closed Tuesday with an Increase

BIST 100 index closed Tuesday with an increase. BIST 100 index in Borsa Istanbul closed the day at 1,945.07 points with a gain of 1.82 percent.

At the end of the day, the total transaction volume in the BIST 100 index, which increased by 34.78 points compared to the previous close, was recorded as 27.8 billion liras.

At the closing, the banking index gained 1.71 percent, while the holding index gained 2.17 percent. Among the sector indices, communication was the highest earner with 5.76 percent, while the most decline was recorded on electricity with 0.64 percent.

Meanwhile, the International Monetary Fund (IMF) lowered its global economic growth forecast for 2022 from 4.9 percent to 4.4 percent.

Analysts stated that the search for direction in asset prices continues before the US Federal Reserve’s (Fed) monetary policy decisions to be announced tomorrow.

Stating that the increasing tension between Russia and Ukraine continues to erode the risk appetite in global stock markets, analysts said that the news flow on the subject will be important.

Analysts said that while the Fed is not expected to increase interest rates, the guidance regarding the meeting in March, which is expected to increase by 25 basis points in the bond markets, and the attitude towards reducing asset purchases will be monitored closely.

Emphasizing that Fed Chairman Jerome Powell’s statements will be followed, analysts noted that stock and sector-based movements could be followed domestically due to the balance sheet season.

It was stated that the level of 1.880 stands out as the support and the level of 1.940 is in a position of resistance for the BIST 100 index.