BIST 100 Index Gained Value in the First Half on Borsa Istanbul
While the BIST 100 index rose in the first half of the day, annual inflation fell below 30 percent for the first time since November 2021.
The BIST 100 index rose by 1.41 percent to 12,443.35 points in the first half of the day. According to TURKSTAT data, annual inflation was 29.73 percent.
First Half Course of the BIST 100 Index
As of 13.00, the BIST 100 index increased by 173.17 points and 1.41 percent compared to the previous close, rising to 12,443.35 points, with a total trade volume of 68.2 billion liras.
Sector Performance Distribution
The banking index gained 3.26 percent and the holding index gained 1.07 percent, making banking the top-gaining sector, while financial leasing and factoring was the biggest loser with 6.64 percent.
Global and Local Market Factors
In global markets, expectations that the Fed will pause rate hikes in October supported purchases, while concerns regarding France's public finances in the Eurozone led to a mixed trend.
Inflation Data Announced by TURKSTAT
According to TURKSTAT data, the Consumer Price Index increased by 1.84 percent on a monthly basis and 29.73 percent on an annual basis in September, remaining below expectations and falling below 30 percent for the first time since November 2021.
Technical Expectations of Market Analysts
Analysts stated that US services sector PMI data will be monitored, noting that from a technical perspective, 12,500 and 12,600 points are resistance levels, while 12,200 and 12,100 points act as support.