Stock market started the day flat

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Lerato Khumalo

BIST 100 index at Borsa Istanbul started the day with a 0.02 percent increase at 14,262.34 points.

BIST 100 index at Borsa Istanbul, which followed a sales-oriented trend yesterday, finished the day at 14,259.75 points, losing 0.50 percent of its value.

The index rose to 14,262.34 points at the opening today, with an increase of 2.59 points and 0.02 percent compared to the previous closing. The banking index gained 0.05 percent and the holding index gained 0.03 percent.

Among the sector indices, the highest gainer was forest paper printing with 0.49 percent, and the biggest decrease was securities investment trust with 0.46 percent.

While optimism continues in global markets that permanent peace will be maintained in the Middle East, concerns that increasing costs in technology and artificial intelligence may suppress end-user demand have increased risk perception.

Inflation risks arising from energy prices around the world are turning to the digital field as the increasing chip demand in the artificial intelligence and technology sector increases costs.

Predictions that price pressures caused by excess demand may make it difficult for end users to access digital products have come to the fore, raising concerns that this situation may negatively affect the growth and profitability of artificial intelligence and technology companies, which are in a highly cyclical state.

Analysts stated that the data agenda is calm in the country today, while wholesale stocks in the USA and the University of Michigan consumer confidence index will be followed abroad, and noted that technically, 14,400 and 14,500 points in the BIST 100 index are resistance and 14,100 and 14,000 points are support.