Stock Market Closed Day With An Increase on October 16

Stock Market Closed Day With An Increase on October 16 The stock market closed the day with an increase on October 16. In Borsa Istanbul, the BIST 100 index gained 1.04 percent and finished the day with 1,192.73 points. At the end of the day, the total transaction volume in the BIST 100 index, which increased by 12.30 points compared to the previous closing, was recorded as 19.3 billion lira. At the closing, the banking index gained 2.72 percent, while the holding index gained 1.35 percent. Among the industry indices, tourism earned the most with 5.58 percent, while the most loss was recorded as forest, paper and printing with 0.66 percent. BIST 100 Index increased starting with the last trading day of the week, the Banks Association of Turkey (TBB) announced that following the initiation of Tourism Support Package Applications, under the leadership of tourism shares passed 1190.00 points. TBB announced that it will start the Tourism Support Package Application in order to reduce the effects of the new type of Coronavirus (Covid-19) pandemic. 10 billion TL credit will be provided by the banks with the guarantee of the Ministry of Treasury and Finance and the guarantee of the Credit Guarantee Fund. The credits will have a maturity of 48 months, with a maximum grace period of 12 months, provided that they do not exceed 1st of November 2021. The interest rate was determined as 14.5 percent maximum for fixed rate loans and TLREF + 200 basis points for variable rate loans. It was reported that domestic markets focus on the new reserve amount announcement of President Recep Tayyip Erdogan tomorrow. Analysts stated, Turkey's Central Bank (CBRT) will announce its interest rate decision At the Monetary Policy Committee Meeting next week which will be monitored, also noted that an intense data agenda will be monitored abroad, including growth in China, the Beige Book Report to be published by the US Federal Reserve (FED), and the Purchasing Managers Index (PMI) data which will be announced worldwide. In technical terms, analysts stated that 1,150 points are in support and 1,200 points are in the resistance position in the BIST 100 index.