Moving in an upward trend in the first half of the day, the BIST 100 index increased by 28.97 points to 7,936.10 as of 13:00, compared to the previous close. The total transaction volume stood at TL 69 billion.
The banking index lost 1 percent and the holding index lost 0.41 percent. Among the sector indices, electricity was the highest earner with 3.54 percent, and financial leasing and factoring was the most losing with 2.01 percent.
Meanwhile, according to the data of the Turkish Statistical Institute (TUIK), the Turkish economy grew by 3.8 percent in the second quarter of the year.
Analysts said that although the risk appetite increased with optimism that the US Federal Reserve (Fed) would not raise interest rates in the rest of the year, developments in the Chinese economy continued to put pressure on asset prices.
While the signals from the macroeconomic data announced around the world show that the economic activity continues to slow down, this situation causes different pricing on the two sides of the Pacific Ocean.
While the second quarter growth data of the US economy was revised from 2.4 percent to 2.1 percent, the policy rate was fixed at the Fed’s September meeting in the pricing of money markets after the data showing that the country’s economy grew less than expected in the second quarter and employment growth slowed more than expected. Expectations that it will keep up close to 90 percent.
On the other hand, analysts stated that closing and moving positions may increase the volatility in the markets due to the expiry date in VIOP today.
Analysts stated that the Central Bank of the Republic of Turkey (CBRT) Money Market Board (PPK) meeting summary will be followed in the afternoon, and the data agenda, especially personal consumption expenditures in the USA, will be followed in the afternoon. resistance noted that 7,900 and 7,750 points are in support position.