- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,195.90-0.48%
- INTEREST37.00%-1.00
- BITCOIN82,797-1.05%
- October 13, 202619°
- BIST10012,151-0.94%
- USD49.220.00%
- EUR55.21+0.28%
- GOLD4,195.90-0.48%
- INTEREST37.00%-1.00
- BITCOIN82,797-1.05%
- October 13, 202619°
Borsa Istanbul opened higher, BIST 100 at 14,552 points
Borsa Istanbul's BIST 100 index started the day with a 0.09 percent rise at 14. Global markets are seeking direction as concerns over the US Federal Reserve's interest rate policy ease.
Yesterday, Borsa Istanbul's BIST 100 index, which followed a sell-off trend, ended the day down 1.29 percent at 14,539.61 points. The index made a bullish start to the new trading day.
At the opening, the BIST 100 index rose 12.85 points and 0.09 percent compared to the previous close, reaching 14,552.46 points. The banking index gained 0.12 percent and the holding index rose 0.15 percent.
Among sector indices, the forestry paper printing was the top gainer with 0.58 percent, while the real estate investment trust fell the most with 0.27 percent.
Fed effect continues in global markets
In global markets, the easing of selling pressure caused by concerns that the US Federal Reserve (Fed) might embark on an aggressive tightening cycle by year-end to ensure price stability has brought a search for direction to the forefront.
The war in the Middle East is forcing central banks to adopt a tighter monetary policy stance than expected due to its pronounced economic impacts. Signals indicating that the cost pressures created by the war, particularly through energy prices, may not be transitory are becoming more evident in macroeconomic data.
Eyes on US data
This week, the personal consumption expenditures (PCE) price index and the final first-quarter growth data due in the US are of critical importance for markets. In money market pricing, expectations have strengthened that the Fed could make two interest rate hikes by year-end.
Analysts noted that the growth data and personal consumption expenditures to be released tomorrow could be influential in shaping expectations regarding the Fed.
Analysts stated that the domestic data agenda will be calm today, while abroad, the Ifo business climate index in Germany and weekly mortgage applications, current account balance, and new home sales in the US will be followed. Technically, it was noted that 14,600 and 14,700 points are resistance levels for the BIST 100 index, while 14,400 and 14,300 points are support.
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