Borsa Istanbul starts the day with gains while focus turns to US employment data
While the BIST 100 index completed the day with a 2.53 percent gain at 12,249.04 points, it reached 12,271.92 points at the opening, as global markets await US employment data.
At Borsa Istanbul, the BIST 100 index finished the previous day up 2.53 percent at 12,249.04 points, and started the new day with a 0.19 percent increase at 12,271.92 points. In global markets, the non-farm payrolls data to be announced in the US has become the focal point for investors.
Course of the BIST 100 Index
Following a buying-dominated trend yesterday at Borsa Istanbul, the BIST 100 index completed the day by gaining 2.53 percent to reach 12,249.04 points. At the opening of the day, the index rose by 22.88 points and 0.19 percent compared to the previous close, hitting 12,271.92 points.
Sector Performance Status
The banking index started the day with a 0.15 percent loss, while the holding index opened with a 1.11 percent decrease. Among sector indices, information technology recorded the highest gain with a 0.72 percent increase, whereas financial leasing and factoring was the sector that declined the most with a 7.38 percent drop.
Expectations in Global Markets
While a mixed trend stands out in global markets due to the impact of severe selling pressure in the bond market, all eyes have turned to the non-farm payrolls data to be released in the US. Continuing inflationary pressures and the steps taken by central banks are affecting the bond markets.
Central Banks and Inflation
The persistence of inflation above target in economies and the interest rate hike steps of central banks are increasing the selling pressure in bond markets. Rising oil prices fuel inflation fears, raising projections that the tightening process could accelerate.
Today's Data Agenda and Technical Levels
Analysts stated that the second meeting of the Fund Coordination Board domestically, and the US non-farm payrolls data alongside Eurozone inflation data abroad, will be monitored. From a technical perspective, 12,400 and 12,500 points act as resistance, while 12,100 and 12,000 points serve as support levels for the BIST 100 index.