At the opening, BIST 100 index fell by 33.57 points and 0.31 percent compared to the previous close, falling to 10,658.11 points.
The banking index lost 0.25 percent and the holding index lost 0.27 percent. Among the sector indices, the biggest gainer was construction with 0.35 percent, and the biggest loser was tourism with 0.99 percent.
BIST 100 index, which was in a downward trend yesterday, closed the day at 10,691.68 points, down 0.39 percent compared to the previous close.
While global stock markets are on a mixed course ahead of the US Federal Reserve’s (Fed) monetary policy decisions this evening, the Bank of Japan (BoJ) surprisingly raised its policy rate to 0.25 percent.
Analysts reported that volatility in the markets is expected to increase in the second half of the week with the Fed’s interest rate decision in the US, macroeconomic data to be announced and balance sheets.
While it is almost certain that the Fed will keep its policy rate unchanged at 5.25-5.50 percent today, the signals from the policy text and Fed Chair Jerome Powell’s verbal guidance are expected to provide clues about future monetary policy.
While pricing in money markets indicates that the Fed may cut interest rates three times during the rest of the year, it is anticipated that the signals to be received from the Fed as well as the data in the employment report to be announced on Friday may reduce the question marks about the bank’s interest rate cut.
Analysts reminded that today is the maturity date for stock futures contracts and reported that volatility could be high due to position carrying and closing transactions.
Analysts reported that today, the intensive data agenda will be followed, primarily the foreign trade balance in the country, inflation in the Eurozone, ADP private sector employment in the US and the Fed’s interest rate decision, and noted that technically, 10,600 and 10,500 points are support and 10,800 points are resistance in the BIST 100 index.