At the opening, the BIST 100 index rose to 4,956.02 points, gaining 31.38 points and 0.64 percent compared to the previous close.

The banking index increased by 0.46 percent and the holding index increased by 0.54 percent. Among the sector indices, mining was the highest earning with 1.80 percent, and securities investment trust was the lowest with 0.25 percent.

Moving in an upward trend on Friday, the BIST 100 index gained 0.24 percent and closed the day at 4,924.64 points.

Analysts stated that global stock markets started the new week cautiously with the increasing uncertainties regarding monetary policies in the USA, and noted that the inflation data to be announced on Wednesday in the country are expected to have an impact on the direction of asset prices.

Reminding that the non-farm employment data announced on Friday in the USA was in line with the expectations with 236,000, analysts said that this situation significantly changed the market expectations regarding the decisions to be taken by the US Federal Reserve (Fed) in the May meeting.

Analysts reported that before the data, the probability of the Bank’s 25 basis point rate hike next month, which was at the level of 45 percent in money markets pricing, increased to 64 percent after the data.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *