Borsa Istanbul BIST 100 index started the day with a decline
While the BIST 100 index on Borsa Istanbul declined at the opening compared to the previous closure, global markets await US employment data.
The BIST 100 index on Borsa Istanbul started the day with a 0.15 percent decrease at 13,911.44 points, while investors turned their attention to the non-farm payroll data to be announced in the US.
Initial Movements in the Index
Following a sell-heavy course yesterday, the BIST 100 index on Borsa Istanbul had completed the day with a 0.84 percent loss at 13,932.46 points. At the opening, the index declined by 21.03 points and 0.15 percent compared to the previous close to 13,911.44 points.
Sectoral Performances
At the opening, the banking index gained 0.97 percent, while the holding index lost 0.06 percent. Among sector indices, banking was the top gainer, while the IT sector was identified as the biggest loser with a 3.56 percent drop.
State of Global Markets
Global markets are following a positive course under the influence of decreasing projections regarding a US Federal Reserve (Fed) rate hike and a slight decline in bond yields.
Fed and Rate Expectations
Fed Board Member Christopher Waller's indication that he could support keeping interest rates unchanged this month if economic data confirms that inflationary pressures are easing has weakened expectations for a rate hike.
Markets Focused on Data
While the real effective exchange rate is monitored domestically, a busy data agenda, primarily the non-farm payroll data to be released in the US, remains the focus of investors abroad.
Technical Levels
Analysts noted that from a technical perspective, the 13,800 and 13,700 point levels are in the position of support for the BIST 100 index, while 14,000 and 14,100 points are being monitored as resistance.