Winter Started Early For The BIST 100 Index

Winter started early for the BIST 100 index. BIST 100 index returned to negative territory on an annual basis.

Compensating for its loss during the year with the rise it experienced in July and August, Borsa Istanbul's BIST 100 index lost value this week and returned to the negative zone again. So, what does the technical analysis show us before the CBRT meeting to be held this week? When can stocks go up? Deniz Engin from Investing.com states: "With the weakening of the Chinese data, the indices in the markets pricing the global slowdown also fell this week. MSCI Turkey was the index that dropped the most with 7%, while the stock market lost nearly 2% this week in the decline, which was more evident in the developing country markets. The index, which started the week at 1,438 points, closed the week at 1,419 points and fell to the lowest level after 11 August. BIST Banks, which started to rise in the second quarter after its loss in the first quarter of the year, decreased by 5.5% this month to its lowest level in the last month. In addition to the decrease in the global risk appetite, the CBRT's change in required reserves was also effective in the decrease in the banking index. Bank cash ratio decreased in foreign currency basis. On the last trading day of the week, BIST Simple Metals, BIST Chemical, Petroleum & Plastic, BIST Construction and BIST Banks decreased the most, while BIST Transportation showed the best performance of the day. If we look at the shares, eo Teknoloji Enerji ve Endustri A.Ş. YEOTK, Penta Teknoloji Urunleri Dagitim Ticaret A.Ş. PENTA and Oylum Sınai Yatirimlar A.Ş.  OYLUM are among the best, while Euro Investment Holding A.Ş. EUHOL, Doğusan Boru Sanayi ve Ticaret AS DOGUB and Selçuk Gıda Endustri Export İthalat A.Ş. became SELGD. The level of 1,400, which was followed as important support in the BIST 100 index, remained stable this week. It is expected that the FOMC meeting on the global side and the MPC meeting in the domestic market next week will be effective in the activity in TL assets. According to Yunus Kaya, Research Manager of Alnus Capital, a 0.7% monthly increase was announced in the US, while a decrease was expected in retail sales for August. Thus, the annual increase was 15.1%. While there was an increase in the dollar index after the announcement, the depreciation of the currencies of developing countries increased. While USDTRY was 8.43 in the morning, it exceeded 8.53 after 17.00. The stock market was also affected. BIST 100 index, which saw the lowest 1,412.78 and the highest 1,434.74 points during the day, closed yesterday at 1,418.03 points with a decrease of 0.42%. The index that lost the most value was BIST MADENCILIK with a loss of 3.94%. Daily losses of Gold and Silver exceeding 2% may be effective in these decreases.