BIST 100 Started Wednesday With An Increase

BIST 100 index started Wednesday with an increase. BIST 100 index in Borsa Istanbul started the day at 1,828.33 points with a gain of 1.03%.

At the beginning of the day, the BIST 100 index, which gained 18.68 points and 1.03 percent compared to the previous close, reached 1,828.33 points. While the banking index gained 0.97 percent at the opening, the holding index gained 0.95 percent. Among the sector indices, construction was the highest earner with 1.61%, while the most decline was recorded on forest, paper and printing with 1%. Yesterday, the BIST 100 index in Borsa Istanbul followed a nearly flat course and closed the day at 1,809.65 points with an increase of 0.05 percent. The US Federal Reserve (Fed) Chairman Jerome Powell said in a statement yesterday that he thinks the risk of higher inflation has increased, and that it is time to put aside the assessment that inflation is "temporary". Stating that the economy is very strong and inflationary pressures are high, Powell said, "Therefore, it would be appropriate to consider completing the reduction in asset purchases, which we announced at the November meeting, maybe a few months ago. I hope we will discuss this at our meeting in a few weeks." Analysts stated that the concerns about the effect of the Omicron variant on the economy and Powell's statements, pointing out that bond purchases could be terminated earlier than expected, caused pressure on the markets, and noted that the news flow about the coronavirus (Covid-19) epidemic would have an impact on investor decisions. Stating that the speeches of Fed Chairman Powell and Treasury Secretary Janet Yellen in the House of Representatives Financial Services Committee will be followed today, analysts said that the global manufacturing industry Purchasing Managers Index (PMI) and ADP private sector employment in the USA will be monitored closely. In technical terms, it was stated that the levels of 1.830 and 1.860 are in a position of resistance and the level of 1.730 stands out as the support for the BIST 100 index.