Economy

Borsa Istanbul started the week with a record

BIST 100 index in Borsa Istanbul started the week at an all-time high with 2,502.97 points, gaining 0.34 percent value.

At the opening, the BIST 100 index gained 8.60 points and 0.34 percent compared to the previous close, reaching its all-time high with 2,502.97 points.

The banking index increased by 0.20 percent and the holding index increased by 0.29 percent. While all sector indices started the day with an increase, mining was the highest earner with 1.40 percent.

BIST 100 index gained 0.77 percent on Friday, breaking the closing record with 2,494.37 points.

According to the data released today, although the Chinese economy grew by 4.8 percent in the first quarter, above market expectations, this rate remained below the government’s official target of 5.5 percent for 2022. Retail sales in the country also fell 3.5 percent year-on-year in March, well below expectations.

Analysts reported that the risk appetite on a global basis remained low due to the increasing concerns about the reflections of the measures taken within the scope of the new type of coronavirus (Kovid-19) epidemic in China on the economy and the expectations for the falconry central banks, while Borsa İstanbul diverged positively.

Reminding that the European stock markets are closed today due to the holiday, analysts said that the verbal guidance of the US Central Bank (Fed) officials and the news flow about the Russia-Ukraine war continue to remain in the focus of investors.

Analysts stated that the domestic housing price index and international investment position data will be followed today, and noted that, technically, the BIST 100 index has a resistance position of 2.550 points and a support level of 2.440.

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