Stock market started the day with an increase

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Lerato Khumalo

BIST 100 index at Borsa Istanbul started the day at 14,506.83 points with an increase of 0.45 percent.

BIST 100 index at Borsa Istanbul, which followed a buying-oriented trend on Thursday, closed the day at 14,442.56 points, gaining 0.92 percent in value.

The index rose to 14,506.83 points at the opening today, with an increase of 64.27 points and 0.45 percent compared to the previous closing. The banking index gained 0.29 percent and the holding index gained 0.33 percent.

Among the sector indices, the one that gained the most was electricity with 1.03 percent, and the one that decreased the most was textile leather with 0.44 percent.

Global markets started the week positively, with the positive impact of the US’s statements that it will support the passage of ships belonging to neutral countries stuck in the Strait of Hormuz.

Analysts stated that with the Hormuz crisis, the availability of oil was priced rather than its quality, and that any development that could increase oil supply was welcomed.

Analysts stated that inflation in the country, factory orders in the USA, durable goods orders and Eurozone manufacturing industry PMI data will be followed today. They noted that technically, 14,600 and 14,700 points in the BIST 100 index are resistance, while 14,300 and 14,200 points are support.

Economists participating in AA Finance’s expectation survey regarding April inflation data predicted that the Consumer Price Index would increase by 3.19 percent on a monthly basis in April.