Borsa Istanbul BIST 100 Index Completes the Day with Gains

Following a cautious course during the day, the BIST 100 index on Borsa Istanbul closed the day with gains driven by rebound buying in parallel with the positive atmosphere in global markets.

Daily Change in the Index

The BIST 100 index recorded an increase of 53.27 points compared to the previous close, and the total trading volume amounted to 187.7 billion liras.

The index, which saw a low of 12,890 points during the day amid a cautious atmosphere created by developments regarding investment funds, recovered with incoming rebound purchases.

Sectoral Performance

The banking index gained 1.90 percent in value, while the holding companies index lost 1.89 percent.

Among sector indices, the telecommunications sector was the top gainer with 2.56 percent, while financial leasing and factoring was the biggest loser with 9.26 percent.

Course of Global Markets

While South Korean export data pointing to chip demand supported technology stocks, energy prices declined due to the increase in oil supply.

As global markets followed a positive course with these developments, investors focused on the planned meeting between the leaders of the US and China.

Change in Fund Liquidation Period

In accordance with new principle decisions taken by the Capital Markets Board, changes were made to the procedures and principles for the liquidation of investment funds.

The liquidation period, which was previously set at a maximum of 3 months, was increased to 6 months by taking portfolio structures and market developments into consideration.

Markets Eye Data Releases

Analysts stated that from a technical perspective, 13,500 and 13,600 points are in the position of resistance, and 13,200 and 13,100 points are support for the BIST 100 index.

Tomorrow, the consumer confidence index and foreign exchange data of non-financial firms domestically, as well as Eurozone and US data abroad, will be monitored.