Economy in Turkey: Upward trend continues in Istanbul Stock Market

While Borsa Istanbul has been consistently rising for the past 3 days, it continues to stay above 8,000 points. Analysts emphasize that the index maintaining itself above 8,060 points is critical in the short term.

Borsa Istanbul closed yesterday with a gain, with the banking index rising nearly 6% due to positive reports from foreign institutions. Analysts highlight the critical nature of BIST 100 index holding above 8,060 in the short term and emphasize the importance of volume supporting a positive trend movement.

In addition, experts mention that companies with income flexibility and no cash problems may come to the forefront during the tightening process, rather than companies that showed growth during the growth period. On the other hand, Turkey’s 5-year CDS premiums continue to decline, starting the day at 339 basis points.

The BIST 100 index started the day with a 0.11% gain at 8,115 points, moving in the range of 8,112 – 8,140. As of 10:21, the index is at 8,140 points, showing a 0.40% increase.

At the opening, the banking index was down 0.31%, while the holding index has a 0.06% increase. At the moment, they are moving with a 0.61% decrease and a 0.32% premium, respectively.

From a technical perspective, the BIST 100 index has resistance levels at 8,200 and 8,380, with support levels at 8,100 and 8,000 points.”