Losses continue in the stock market

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Lerato Khumalo

BIST 100 index, which moved in a downward trend in the first half of the day, dropped to 14,369.23 points as of 13:00, with a decrease of 275.47 points and 1.88 percent compared to the previous close.

The total transaction volume was 76 billion lira. The banking index lost 2.67 percent and the holding index lost 1.48 percent.

Among the sector indices, the highest rise was chemistry, petroleum plastics with 0.29 percent, and the biggest loss was financial leasing factoring with 7.12 percent.

The sharp rises seen in artificial intelligence and technology companies in global markets yesterday were replaced by selling pressure due to inflationary concerns triggered by rising oil prices and increases in bond interest rates.

Analysts stated that New York Fed manufacturing index, industrial production and capacity utilization rate will be followed in the USA for the rest of the day, and stated that technically, 14,300 and 14,200 points in the BIST 100 index are support and 14,500 and 14,600 points are resistance.