Stock market rises with banking and industry

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Lerato Khumalo

BIST 100 index in Borsa Istanbul gained 0.61 percent in the first half of the day and rose to 11,223.72 points.

BIST 100 index, which had an upward trend in the first half of the day, rose to 11,223.72 points as of 13:00, up 67.52 points compared to the previous close. Total transaction volume was 57.9 billion liras.

While the banking index lost 0.39 percent of its value, the holding index gained 0.78 percent.

Among the sector indices, the one that gained the most was mining with 3.70 percent, while the one that fell the most was financial leasing factoring with 2.61 percent.

Analysts said global stock markets started the week cautiously following the uncertainties that emerged after President Joe Biden withdrew his candidacy for the US presidential election.

While the tight monetary policies pursued by central banks around the world as part of their fight against inflation are gradually coming to an end, the possible results of the US elections continue to complicate asset pricing.

Analysts stated that the Chicago Fed national activity index data will be followed in the afternoon in the USA, and noted that from a technical perspective, the resistance levels in the BIST 100 index are 11,250 and 11,350 points, while the support levels are 11,000 and 10,900.