At the opening, the BIST 100 index increased by 80.64 points compared to the previous close and gained 1.05 percent to 7,795.01 points.
The banking index increased by 1.01 percent and the holding index increased by 1.04 percent. While all sector indices rose, construction was the highest earner with 2.21 percent.
BIST 100 index in Borsa Istanbul, which was buying on Friday, closed the day at 7,714.38 points with a 3.67 percent increase in value, and the closing broke a record.
While global markets started the week with a negative trend amid ongoing concerns about inflation and recession, the intense macroeconomic data agenda to be followed throughout the week is expected to have an impact on the direction of asset prices.
Fed may raise rates again
Uncertainties regarding the economic trajectory of the world’s largest economies, the USA and China, located on both sides of the Pacific Ocean, continue to complicate pricing.
While there is a possibility that the US Federal Reserve (Fed) may raise interest rates again in the fight against inflation due to the data announced in the USA, the possibility of default by the big players in the real estate sector due to the deflationary process in China causes the risk perception to increase.
Analysts stated that the data agenda around the world is calm today, and technically, 7,900 and 8,000 levels in the BIST 100 index are in the position of resistance, and 7,700 and 7,500 points are in the support position.