Stock market rose in the first half of the day

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Lerato Khumalo

BIST 100 index in Borsa Istanbul gained 0.26 percent in the first half of the day, reaching 14,522.64 points.

BIST 100 index, which moved in an upward trend in the first half of the day, rose to 14,522.64 points as of 13:00, an increase of 37.73 points and 0.26 percent compared to the previous closing.

Total transaction volume was 86.4 billion lira. While the banking index gained 0.09 percent in value, the holding index lost 0.1 percent.

Among the sector indices, the one that increased the most was sports with 1.54 percent, and the one that lost the most value was textile-leather with 2.15 percent.

While global markets followed a mixed course due to the impact of geopolitical risks arising from the US/Israel-Iran War, all eyes turned to the second round of negotiations between the US and Iran, which are expected to take place in Islamabad, the capital of Pakistan.

According to domestic data, the seasonally adjusted Real Sector Confidence Index (RKGE-MA) in April decreased by 1.4 points compared to the previous month, falling to 98.6. The capacity utilization rate (CUR) in the manufacturing industry, not adjusted for seasonal effects, increased by 0.5 points compared to the previous month and reached 73.8 percent in April.

Analysts stated that retail sales and pending home sales in the USA will be followed for the rest of the day, and stated that technically, 14,600 and 14,700 points in the BIST 100 index are resistance, and 14,400 and 14,300 points are support.