Borsa Istanbul starts the day with an increase
The BIST 100 index showed a recovery in the early trades of the day, following an upward trajectory and gaining value.
The BIST 100 index at Borsa Istanbul started the day with a 0.22 percent increase compared to the previous close at 14,081.17 points.
Opening Data of the BIST 100 Index
Following yesterday's selling-heavy course, the BIST 100 index at Borsa Istanbul had completed the day with a 1.25 percent loss in value at 14,050.56 points. At the opening of the new day, the index recorded an increase of 30.61 points and 0.22 percent compared to the previous close, reaching 14,081.17 points.
Performance Distribution of Sectors
In the opening session, the banking index gained 1.17 percent and the holding index gained 0.18 percent. Among sector indices, mining was the top gainer with 1.18 percent, while the technology sector was recorded as the sector with the highest decline with a 1.97 percent drop.
Global Markets and Risk Appetite
On a global scale, the partial easing of geopolitical tensions and the slowing down of increases in oil prices and bond yields boosted risk appetite. US President Donald Trump's remarks that attacks against Iran might not last long also supported this positive atmosphere.
Developments in the US Economy
While the ADP private sector employment coming in below expectations pointed to a loss of momentum in the market, New York Fed President John Williams stated that inflation continues to slow down. This situation partially balanced the interest rate hike expectations that had strengthened recently.
Intense Data Agenda of Markets
Analysts are following domestic inflation data, as well as services and Composite PMIs globally, Eurozone PPI, and the US foreign trade balance. From a technical perspective, 14,200 and 14,300 points are resistance levels, and 13,900 and 13,800 points are support levels for the BIST 100 index.
Inflation Expectations and Forecasts
Economists participating in the AA Finance Inflation Expectation Survey forecast that the CPI will rise by 1.86 percent in August. While annual inflation is expected to retreat from 31.75 percent in July to 31.52 percent in August, the average year-end inflation expectations stood at 29.49 percent.