Stock Market Started the Day With a Record

Stock Market Started the Day With a Record Stock market started the day with a record. BIST 100 index in Borsa Istanbul increased by 0.45 percent and broke the opening record with 1,348.47 points. At the beginning of the day, the BIST 100 index, which gained 5.97 points and 0.45 percent compared to its previous closing, reached 1,348.47 points and started the day with its all-time high. At the opening, the banking index gained 0.71 percent, while the holding index gained 0.29 percent. Among the sector indices, the highest profit was on IT with 1.36 percent, while tourism had the most decline with 0.43 percent. On Thursday, the BIST 100 index, which recorded its highest level during the day with 1,343.93 points, increased 1.28 percent compared to its previous close and broke the closing record at 1,342.49 points. Analysts, indicating that recently, implementation of pro-market applications increased the demand of TL assets along with the confidence, stated Central Bank of Republic of Turkey’s (CBRT) has initiated the reserve requirement regulation after yesterdays Monetary Policy Committee meeting summary. Deciding to switch to a simple reserve requirement system in order to increase the effectiveness of the monetary transmission mechanism, the CBRT abolished the requirement and interest rates that differ according to real credit growth, while also increasing the TL and foreign currency required reserve ratios. Indicating that the economic confidence index will be monitored domestically today, analysts reminded that consumer confidence data will be followed in the Eurozone. In technical terms, analysts stated that 1.360 points are in the resistance position and 1.320 points are in the support position in the BIST 100 index.