Stock Market Started the Day With an Increase on November 20

Stock Market Started the Day With an Increase on November 20 The stock market started the day with an increase on November 20. BIST 100 index in Borsa Istanbul increased by 0.20 percent and opened the day with 1,315.69 points. At the beginning of the day, the BIST 100 index gained 2.67 points and 0.20 percent compared to its previous closing and reached 1.315.69 points. While the banking index lost its value by 0.03 percent at the opening, the holding index gained 0.05 percent. Among the industry indices, stone and soil earned the most with 1.35 percent while the biggest loss was on securities investment partnership with 1.65 percent. After the interest rate decision of the Central Bank (Central Bank of the Republic of Turkey) yesterday, investor’s interest in TL assets increased exponentially and a new record was seen in Borsa Istanbul. On Thursday, the BIST 100 index reached its highest record of 1,325.70 points yesterday, and the closing record increased by 1.41 percent to 1,313.02 points. CBRT's interest rate decision and simplification step are positive for the markets; Stating that the text of the decision was clear and understandable, analysts noted that plain and intense emphasis on inflation targeting is very valuable for predictability, credibility and Turkish lira assets. The CBRT raised the policy rate to 15 percent yesterday at its first Monetary Policy Committee (PPK) meeting chaired by Naci Ağbal. The bank stated that all funding will be made over the one-week repo rate, which is the main policy tool. Indicating that the consumer confidence index will be monitored domestically and in the Eurozone today, analysts also reminded that the statements of European Central Bank President Christine Lagarde will be monitored abroad. In technical terms, analysts stated that 1.325 and 1.340 levels could become resistance and 1.280 points could become support in the BIST 100 index.