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

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Lerato Khumalo

BIST 100 index, which moved in a downward trend in the first half of the day, dropped to 13,424.45 points as of 13:00, with a decrease of 77.10 points and 0.57 percent compared to the previous closing.

The total transaction volume was 62 billion lira. While the banking index lost 0.25 percent of its value, the holding index gained 0.17 percent.

Among the sector indices, the highest rise was textile and leather with 1.55 percent, and the biggest loser was informatics with 5.06 percent.

In global markets, increasing uncertainties regarding monetary policy following the US Federal Reserve’s interest rate decision, geopolitical developments in the Middle East and announced macroeconomic data have an impact on pricing.

Analysts stated that weekly money and bank statistics in the country, BoE’s interest rate decision abroad, inflation in Germany and growth and personal consumption expenditures data in the USA will be followed for the rest of the day, and noted that technically, 13,400 and 13,300 points in the BIST 100 index are support and 13,700 and 13,800 points are resistance.