Stock market rose with banks in the first half of the day

//

Lerato Khumalo

BIST 100 index at Borsa Istanbul gained 0.11 percent in the first half of the day, reaching 11,036.07 points.

BIST 100 index, which had an upward trend in the first half of the day, rose to 11,036.07 points as of 13:00, up 11.74 points compared to the previous close. Total transaction volume was 48.2 billion liras.

While the banking index gained 0.49 percent, the holding index lost 0.06 percent.

Among the sector indices, the one that gained the most was informatics with 1.91 percent, while the one that fell the most was communications with 1.16 percent.

On the other hand, according to the balance of payments data announced by the Central Bank of the Republic of Turkey, the current account had a deficit of 1 billion 235 million dollars in May 2024.

While the annualized current account deficit decreased to 25 billion 191 million dollars in May, the last 1-year improvement in the annualized current account deficit pointed to 31 billion 831 million dollars.

Analysts said that global stock markets have been following a mixed course with profit taking at record levels following data indicating that consumer inflation in the US has slowed, and that all eyes are on producer inflation in the US today.

Analysts stated that the data agenda would be calm in the afternoon in the country, and that the Producer Price Index (PPI) and Michigan consumer confidence index data in the USA would be followed abroad, and noted that from a technical perspective, 11,100 and 11,200 points in the BIST 100 index are resistance, while 11,000 and 10,900 levels are support.