Stock Market Started the New Week Horizontally

The new week has started horizontally in the stock market. BIST 100 index gained 0.04 percent in Borsa İstanbul and opened the week from 1.525.03. At the beginning of the day, the BIST 100 index, which increased by 0.54 points and 0.04 percent compared to its previous closing, reached 1.525.03 points. Banking index lost 0.33 percent, while the holding index gained 0.19 percent. Among the sector indices, sports were the most profitable with 3.49 percent, while communication was the most declining with 0.36 percent. On Friday, the BIST 100 index, which fell 1.43 percent compared to the previous close, completed the day at 1,524.49 points. With this level, the BIST 100 index ended the 10-week bullish rally record series and lost 1.05 percent on a weekly basis. Analysts stated that the comments of Joe Biden, who was elected President of the USA, that the $ 1.9 trillion outbreak support package, which was announced last week, was unlikely to pass by Congress, reduced global risk appetite. Reminding that the markets are closed today in the USA due to a public holiday, analysts stated that the manufacturing and service sector Purchasing Managers Index, which will be announced worldwide on Friday with the interest decisions of the CBRT and the European Central Bank, will be followed throughout the week. In technical terms, analysts stated that the 1.500 level in the BIST 100 index is a critical support in terms of the short and medium-term outlook, while 1.550 and 1.570 are in the resistance position.