The Stock Market was on a Sideways Drift at the Opening

The Stock Market was on a Sideways Drift at the Opening. The stock market was on a sideways drift at the opening. In Borsa Istanbul, the BIST 100 index decreased by 0.02 percent and started the day with 1.089.39 points. At the opening of the day, the BIST 100 index lost 0.21 points and 0.02 percent and fell to 1.089.39 points. At the beginning of the day, the banking index lost 0.18 percent in value. Holding index increased by 0.11 percent. While sports were the most profitable among the industry indices with 5.85 percent; Tourism recorded the highest loss with 0.77 percent. The BIST 100 index started the day with an increase yesterday and went above 1,100 points. However, after this level, it started to decrease with the sellers in the European stock markets and closed the day with 1.089.60 points, decreasing by 0.66 percent. According to analysts' comments, the sharp fall of technology stocks in the US yesterday and the acceleration of the decline in oil prices affected the risk perception on a global scale. Commodities are partially calm after the President of the International Monetary Fund (IMF), Kristalina Georgieva, said that the economic deterioration caused by the Coronavirus (Covid-19) epidemic has begun to recover. On the other hand, it is said that the news on coronavirus treatment and the geopolitical developments centered on the Eastern Mediterranean remain at the center of the agenda. In addition, analysts state that the course of technology stocks may determine the global risk appetite for a while. Technically, it is stated that the level of 1.120 is in the resistance position and 1.070 points in the support position in the BIST 100 index.