The stock market finished the day with a decline – Sözcü

The stock market completed the last business day of the week with a limited decrease.


The stock market ended the day with a decline

BIST 100 index at Borsa Istanbul lost 0.89 percent of its value and finished the day at 7,771.34 points.

While the BIST 100 index decreased by 70.13 points compared to the previous closing, the total transaction volume reached 74 billion lira.

The banking index lost 0.87 percent and the holding index lost 1.00 percent.

Among the sector indices, the one that gained the most was informatics with 2.13 percent, and the one that decreased the most was insurance with 4.82 percent.

Analysts stated that global equity markets followed a volatile course, with the tone of US Federal Reserve Chairman Jerome Powell’s statements yesterday being more “hawkish” than anticipated.

Analysts stated that it continues to be questioned whether sufficient steps have been taken to combat inflation around the world and that volatility in et prices continues to remain strong.

In his statement yesterday, Fed Chairman Powell stated that they are not sure that a restrictive monetary policy stance has been reached that will reduce inflation to the 2 percent target, and said that they will not hesitate to tighten monetary policy further if necessary.

Next week, domestic balance of payments, budget balance, housing sales, housing price index, Central Bank of the Republic of Turkey (CBRT) market participants survey, and abroad, European Central Bank (ECB) President Christine Lagarde’s statements, in the USA, the Eurozone, Stating that an intensive data agenda will be followed, especially inflation in the UK, growth in the Eurozone and Japan, analysts noted that technically, 7,750 points in the BIST 100 index are support and 7,950 and 8,020 levels are resistance.

Economists participating in the AA Finance Balance of Payments Expectations Survey expect the current account to have a surplus of 1 billion 529 million dollars in September. Economists participating in the survey expected the current account deficit at the end of 2023 to be between 43.4 and 49.4 billion dollars. (AA)

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