Stock market started the week with a decline

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Lerato Khumalo

BIST 100 index in Borsa Istanbul started the week at 14,265.51 points with a decrease of 0.39 percent.

BIST 100 index at Borsa Istanbul, which followed a buying-oriented trend on Friday, completed the day at 14,321.19 points with a 1.53 percent gain in value.

The index dropped to 14,265.51 points at the opening today, with a decrease of 55.68 points and 0.39 percent compared to the previous closing. The banking index lost 1.18 percent and the holding index lost 0.59 percent.

Among the sector indices, the highest gain was chemistry, petroleum plastics with 1.10 percent, and the biggest decrease was transportation with 1.38 percent.

Global markets started the week with selling pressure due to increasing geopolitical tensions due to the US intensifying its attacks on Iran and the continuing risks originating from the Strait of Hormuz.

Domestically, all eyes are on the Balance of Payments data for May to be announced by the Central Bank of the Republic of Turkey (CBRT).

Economists participating in the AA Finance Balance of Payments Expectations Survey estimated that the current account would have a deficit of 1 billion 127.5 million dollars in May. Economists predicted that the current account would have a deficit of 52 billion 255 million dollars this year.

Analysts stated that the balance of payments and retail sales will be monitored domestically today, and the federal budget balance in the USA will be followed abroad, and noted that technically, 14,100 and 14,000 points in the BIST 100 index are support, and 14,400 and 14,500 points are resistance.