Stock market started the day with an increase

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Lerato Khumalo

BIST 100 index at Borsa Istanbul started the day with a 0.30 percent increase at 13,785.85 points.

Borsa Istanbul’s BIST 100 index, which was horizontal yesterday, completed the day at 13,744.64 points with an increase of 0.02 percent.

The index rose to 13,785.85 points at the opening today, with an increase of 41.21 points and 0.30 percent compared to the previous closing. The banking index gained 0.57 percent and the holding index gained 0.09 percent.

Among the sector indices, banking was the one that gained the most, and electricity was the one that decreased the most, with 1.14 percent.

While the risk appetite in global markets decreases due to concerns that geopolitical tensions in the Middle East may turn into violent conflicts again, a positive trend is observed in the country, led by banking stocks, with Halkbank’s announcement that the lawsuit filed against the bank will be completely ended with the approval of the US court.

Following this development, Halkbank’s shares increased by 3.93 percent at the opening.

On the other hand, the CBRT’s interest rate decision will be followed domestically.

Economists participating in AA Finans’ expectation survey expect the Central Bank of the Republic of Turkey (CBRT) to keep the policy rate constant at 37 percent in June.

Analysts stated that the CBRT’s interest rate decision as well as weekly money and bank statistics will be followed in the country today, while the ECB interest rate decision, ECB President Lagarde’s press conference, weekly unemployment benefit applications in the USA and Producer Price Index (PPI) data will be followed abroad, and noted that technically, 13,900 and 14,000 points in the BIST 100 index are resistance and 13,600 and 13,500 points are support.