BIST 100 Index Rises in the First Half of the Day on Borsa Istanbul
While the markets followed a buyer-driven trend in the first half of the day, total trading volume reached 84.7 billion liras.
The BIST 100 index on Borsa Istanbul gained 1.27 percent in the first half of the day, rising to 12,098.53 points and testing the 12,228 point level.
Current Status of the Index
As of 13.00, the BIST 100 index posted an increase of 151.35 points, or 1.27 percent, compared to the previous close.
During intraday trading, the total trading volume reached the level of 84.7 billion liras.
Sectoral Developments and Divergences
The banking index lost 0.13 percent and the holding index lost 0.77 percent in value.
Among the sectors, the top gainer was the IT sector with 3.46 percent.
The sector that suffered the most losses was determined as financial leasing and factoring with 7.25 percent.
Recovery Purchases and Levels
Having dropped to 11,926.04 points due to ongoing selling pressure since the beginning of the week, the index rose with recovery purchases from this level.
During the upward trend, the index managed to test 12,228 points during the day.
Market Expectations and Technical Levels
Analysts stated that a heavy data calendar, primarily the manufacturing industry PMI data in the US, will be monitored for the rest of the day.
From a technical perspective, 12,200 and 12,300 points act as resistance, while 12,000 and 11,900 points serve as support levels for the BIST 100 index.