Borsa Istanbul BIST 100 Index Closes the Week with an Increase as Trading Volume Exceeds 114 Billion Liras
The BIST 100 index gained 0.43 percent on the last trading day of the week to reach 12,265.98 points, while investors focused on next week's economic data.
On Borsa Istanbul, the BIST 100 index completed the final trading day of the week with a 0.43 percent increase at 12,265.98 points under the influence of positive sentiment in global markets, while the total trading volume reached 114.1 billion liras.
Weekly Close of the BIST 100 Index
On Borsa Istanbul, the BIST 100 index finished Friday up 0.43 percent at 12,265.98 points, recording an increase of 52.40 points compared to the previous close. Driven by the positive mood in global markets, the index's total trading volume reached the level of 114.1 billion liras.
Sectoral Changes
The banking index lost 0.26 percent in value, while the holding companies index declined by 1.45 percent. Among sector indices, the mining sector achieved the highest increase with 4.79 percent, whereas the sharpest decline was observed in the financial leasing and factoring sector at 5.15 percent.
Global Developments and Energy Markets
US President Donald Trump's statement that they would not launch an attack against Iran prior to the congressional midterm elections alleviated concerns regarding energy supply. Along with the decline in oil prices, a generally positive trend was observed in international markets.
Bill Submitted to Parliament for Investment Funds
A legislative bill regarding investment funds decided for liquidation, bearing the signatures of AK Party deputies, was submitted to the Grand National Assembly of Turkey (TBMM) Presidency. According to the bill, intermediate payments up to this amount can be made to investors with a net investment amount below 1 million liras, and a maximum of 1 million liras to those with investments of 1 million liras and above.
Critical Support and Resistance Levels
Analysts evaluate the 12,400 and 12,500 point levels as resistance, and the 12,100 and 12,000 point levels as support points for the BIST 100 index. Next week, the current account balance, budget balance, and housing sales domestically, and inflation data internationally will be monitored.
Latest Situation in Precious Metals
While ounce gold traded at 4,197 dollars and gram gold at 6,657 liras, spot silver rose by 0.33 percent to the 61 dollar level. During the same period, platinum rose to 1,698 dollars and palladium to 1,156 dollars.