The BIST 100 index at Borsa Istanbul started the new day with gains. At the opening, the index rose 90.09 points or 0.62% compared to the previous close, reaching 14,583.18 points.
Yesterday, the BIST 100, which followed a buying-heavy trend, closed the day with a 0.32% increase at 14,493.09 points. At the opening, the banking index gained 0.43%, while the holding index rose 0.31%.
Trade Sector Leads Gains
Among sector indices, trade recorded the highest increase with 1.93%. The only sector to start the day in the red was information technology, down 0.17%.
Global markets are mixed. News flow continues regarding the agreement reportedly to be signed between the US and Iran on Friday, but the lack of clarity on details keeps investors cautious.
Expectations that the Strait of Hormuz will return to normal are positively received by markets. However, questions remain about the sustainability of these expectations.
Focus on Fed Decision
Market attention has turned to the US Federal Reserve's interest rate decision. The monetary policy signals from the first meeting chaired by new Fed Chair Kevin Warsh are crucial for global asset pricing.
The Fed is widely expected to keep interest rates unchanged. However, the tone of Warsh's post-meeting statements and guidance could be decisive for the short-term market direction.
Analysts say they will look for signals about the future in the monetary policy statement and Warsh's remarks. These signals could increase market volatility.
The Fed's projections will also be closely watched. The bank is expected to revise growth forecasts downward and inflation forecasts upward.
Domestically, today's data agenda is expected to be quiet. Abroad, alongside the Fed decision, a busy data calendar will include Eurozone inflation and US retail sales.
Technically, resistance levels for the BIST 100 index are seen at 14,600 and 14,700 points, while support levels are at 14,400 and 14,300 points.
