Borsa Istanbul continues its record rise: What Developments are Influencing?
As Borsa Istanbul continues to break records in its sessions, the flow of news indicating steps taken to open swap channels yesterday is supporting this upward trend. Borsa Istanbul moved into positive territory yesterday with news of preparations being made to reopen foreign exchange swap channels, while experts noted foreign interest and capital inflows observed at the end of the day.
On the other hand, the decline in Turkey’s 5-year credit default swap (CDS) risk premium continues. Turkey’s CDS premium fell below 282 basis points for the first time since February 2021 yesterday, starting the new day at 285 basis points. Analysts said that news of steps being taken to open swap channels was effective in this movement.
Domestic markets will closely monitor the Central Bank of the Republic of Turkey’s (CBRT) second inflation report, which will be announced tomorrow.
Positive Trend in Borsa Istanbul
The BIST 100 index started the day with a 0.21% increase at 10,358 points, and then continued its rise, reaching its intraday historical peak at 10,383 points. As of 10:35, the index was at 10,341 points with a 0.06% increase.
At the opening, the banking index recorded a 0.19% increase and the holding index a 0.34% increase, while these indexes are currently trading with increases of 0.17% and 0.35% respectively.
From a technical perspective, the BIST 100 index has resistance levels at 10,470 and 10,650, with support levels at 10,230 and 10,150 points.
The Borsa Istanbul 100 index completed the day yesterday at a record level of 10,336 points, up 0.68%, and reached its highest level at 10,375 points.
