Following an upward trend in the first half of the day, the BIST 100 index increased by 125.22 points to 7,787.47 as of 13:00, compared to the previous close. The total transaction volume amounted to 64.1 billion liras.
The banking index gained 1.54 percent and the holding index gained 1.67 percent. Among the sector indices, financial leasing and factoring had the highest gains with 3.90 percent, while the only one that declined was securities investment trusts with 0.89 percent.
Global markets continue their negative course in the inflation and recession dilemma.
Uncertainty rises in the markets
While the data released in the USA and China continue to put pressure on asset prices, uncertainty in the markets is increasing day by day.
In the minutes of the US Federal Reserve (Fed) Federal Open Market Committee (FOMC) meeting held on July 25-26, it was noted that inflation is still well above the Bank’s long-term target.
While the number of companies that cannot pay their debts in the real estate sector in China is increasing day by day, the fact that some financial institutions of the country are experiencing similar problems causes an increase in risk perception.
Analysts stated that weekly money and bank statistics in the country, Philadelphia Fed manufacturing index in the USA, weekly unemployment benefits and CB leading indicators index data will be followed in the afternoon. He noted that 7,900 points are in the resistance position.