The Stock Market Completed the Day with an Increase
While the BIST 100 index closed the day with an increase, the banking index gained 8.88 percent and the total trading volume reached the level of 266.5 billion liras.
The BIST 100 index recorded an increase of 387.19 points compared to the previous close, while the total trading volume amounted to 266.5 billion liras. Banking stocks led the index.
General Trend of the Markets
While the BIST 100 index recorded an increase of 387.19 points compared to the previous close, the total trading volume amounted to 266.5 billion liras. The banking index gained 8.88 percent, and the holding companies index gained 0.64 percent.
Changes on a Sectoral Basis
Among sector indices, banking was the top gainer, while financial leasing and factoring was recorded as the sector that lost the most with a decline of 9.28 percent.
Global and Domestic Developments
Global markets followed a positive course with the decrease in uncertainty following the US Federal Reserve's interest rate move and the drop in oil prices. Domestically, the statement from the Financial Stability Committee had an impact.
CMB Decisions and Regulations
With the decision taken by the Capital Markets Board, all investment funds of 7 portfolio management companies located on the Turkey Electronic Fund Trading Platform were suspended from trading and a liquidation process was initiated.
Central Bank Inflation Expectations
In the Summary of the Central Bank of the Republic of Turkey Monetary Policy Committee Meeting, it was stated that the mild trend in the core goods group prices would continue in September and a drop in food inflation was expected.
Technical Levels and Agenda
Analysts stated that for the BIST 100 index, 13,700 and 13,800 points are in the position of resistance, while 13,400 and 13,300 points are support, drawing attention to the upcoming data calendar.