Moving in an upward trend in the first half of the day, the BIST 100 index increased by 19.25 points to 6,387.60 as of 13:00, compared to the previous close. Total transaction volume stood at TL 50.2 billion.
While the banking index depreciated by 1.66 percent, the holding index gained 1.32 percent. Among the sector indices, insurance was the highest earner with 3.39 percent, and banking was the most declining.
While global markets followed a positive course after the inflation slowed down in the USA, banks such as JP Morgan, Wells Fargo, Citi Group and BlackRock’s second quarter financial results to be announced in the country today will be the focus of investors.
Analysts said the data on producer prices provided further evidence that inflation in the US was falling and raised expectations that the US Federal Reserve (Fed) will soon end its “hawk” policies.
Stating that the consumer confidence index data of the University of Michigan in the USA will be followed in the afternoon, the analysts noted that, technically, 6,500 and 6,600 levels in the BIST 100 index are in the position of resistance, and 6,300 and 6,200 points are in the support position.