The stock market gained value in the first half of the day

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Lerato Khumalo

BIST 100 index in Borsa Istanbul gained 0.22 percent in the first half of the day and rose to 14,163.50 points.

BIST 100 index, which moved in an upward trend in the first half of the day, rose to 14,163.50 points as of 13:00, with an increase of 31.28 points and 0.22 percent compared to the previous closing.

The total transaction volume was 94.1 billion lira. While the banking index lost 0.45 percent of its value, the holding index gained 0.17 percent.

Among the sector indices, the highest rise was chemistry, petroleum plastics with 2.59 percent, and the biggest loss was informatics with 2.11 percent.

In global markets, the slowdown in inflation in the USA and company balance sheets giving positive signals feed the risk appetite. Borsa Istanbul’s BIST 100 index also follows a positive trend, parallel to the European stock markets.

In addition to these developments, according to the August Market Participants Survey of the Central Bank of the Republic of Turkey (CBRT), the year-end increase expectation in the Consumer Price Index (CPI) increased from 29.21 percent to 29.43 percent.

Analysts stated that the data agenda at home and abroad will be calm for the rest of the day, and noted that technically, 14,200 and 14,300 points in the BIST 100 index are resistance, and 14,000 and 13,900 points are support.