BIST 100 index in Borsa Istanbul started the week with a decrease of 0.58 percent to 10,827.98 points.
At the opening, BIST 100 index decreased by 63.44 points and 0.58 percent compared to the previous close, falling to 10,827.98 points.
The banking index lost 1.16 percent and the holding index lost 0.43 percent. Among the sector indexes, the biggest gainer was IT with 0.15 percent, while the biggest loser was banking.
Moving in a narrow band on Friday, the BIST 100 index on Borsa Istanbul closed the day at 10,891.42 points, up 0.18 percent compared to the previous close.
Analysts stated that global stock markets started the week positively, which will be followed by the monetary policy decisions of the central banks of the US, Japan and England, as well as the intensive macroeconomic data calendar, and noted that as the fight against inflation around the world approaches its end, the meetings to be held this week are expected to provide clues about the roadmap of banks.
The decline in inflationary pressures in the US without the economic activity losing as much strength as was feared is allowing “soft landing” scenarios to come to the fore and also feeding risk appetite.
While it is almost certain that the US Federal Reserve (Fed) will leave the policy rate unchanged for the last time at 5.25-5.50 percent on Wednesday, the signals to be received from the policy text, economic projections and Fed Chairman Jerome Powell’s statements are expected to be decisive on the direction of asset prices.
While pricing in money markets indicates that the Fed may cut interest rates three times during the rest of the year, it is anticipated that the signals to be received from the Fed as well as the data in the employment report to be announced on Friday may reduce the question marks regarding the Bank’s interest rate cut.
Analysts reported that the data agenda is calm in the country today, and that the Dallas Fed manufacturing industry index data will be followed abroad in the USA, and noted that technically, 10,750 and 10,500 points are support and 11,000 points are resistance in the BIST 100 index.
