Stock market above an important level
Following the sharp sell-offs yesterday, Borsa Istanbul (Istanbul Stock Exchange) is experiencing buying interest today, with experts noting that the sustainability above 7400 points on the index could support further upward movement.
After closing the day with losses for the first time in three trading days, Borsa Istanbul is witnessing buying interest in today’s sessions. Analysts attribute yesterday’s sales to the advantage of trading in leveraged positions on Wednesdays. On the other hand, technically, it is suggested that the sustainability above 7400 points on the Borsa Istanbul 100 index could support the upward trend.
The BIST 100 index started the day with a 0.13% gain, opening at 7421 points, moving within the range of 7386 – 7463. As of 10:53, the index stood at 7426 points, showing a 0.20% increase.
At the opening, the banking index recorded a 0.10% increase, and the holding index saw a 0.01% increase. At the moment, they are trading with a 0.55% loss and a 0.19% gain, respectively.
From a technical perspective, the BIST 100 index has resistance at 7500 and 7600 points, while support is found at 7400 and 7300 levels.
Yesterday, the Borsa Istanbul 100 index, which followed a predominantly selling trend, ended the day with a 2.78% loss, closing at 7412 points.
