BIST 100 index at Borsa Istanbul, which followed a sales-oriented trend yesterday, finished the day at 14,575.51 points, losing 0.24 percent of its value.
The index dropped to 14,543.70 points at the opening today, with a decrease of 31.81 points and 0.22 percent compared to the previous closing. While the banking index gained 0.67 percent in value, the holding index lost 0.57 percent.
Among the sector indices, the highest gain was forest paper printing with 1.15 percent, and the biggest decrease was financial leasing factoring with 9.09 percent.
Global markets are following a cautious course ahead of US Federal Reserve (Fed) Chairman Kevin Warsh’s statements at the Jackson Hole Economic Policy Symposium.
Macroeconomic data announced the previous day in the USA pointed out that inflationary pressures were continuing, somewhat overshadowing the optimism created in the markets by chip company Nvidia’s balance sheet exceeding expectations.
Analysts pointed out that Warsh’s more detailed explanation of what developments might lead to an interest rate increase in the future could help calm the markets and reduce risk premiums somewhat, noting that even a signal that provides clear guidance regarding the course and timing of policy steps could have a significant impact on the markets.
Analysts stated that the economic confidence index and foreign trade balance will be followed domestically today, as well as Fed Chairman Warsh’s speech, the unemployment rate in Germany, the economic confidence index in the Eurozone, and the University of Michigan consumer confidence index and inflation expectations in the USA. They noted that technically, 14,500 and 14,400 points in the BIST 100 index are support and 14,700 and 14,800 points are resistance.
