Borsa Istanbul Started the New Week with a Decline: The Index is Looking for Direction

Start of the Day with Selling Pressure in Borsa İstanbul

The fluctuations in global markets and ongoing high valuation concerns regarding technology companies continue to create uncertainty among investors. Especially the weakening expectations for interest rate cuts by the U.S. Federal Reserve (Fed) have led to a downward atmosphere in the markets.

A Warm Start After Last Week

Borsa İstanbul started the new week with a more optimistic atmosphere after experiencing a significant decline of approximately %3.28 last week. On Monday, the BIST 100 index closed with an increase of %1.25. However, in today’s opening, the positive momentum reversed due to selling pressure.

BIST 100 Opening Data

In today’s opening, the BIST 100 index decreased by 28.66 points or %0.27 compared to the previous close, falling to 10,669.47 points. The banking index dropped by %0.27, while the holding index showed a decrease of %0.12. Looking at sector-based performance, the index that gained the most value was forest paper production with an increase of %0.53, while the index that lost the most value was trade with a decrease of %0.47.

Today's Economic Data Expectations

Investors will closely monitor the domestic release of the housing price index, unemployment rate, and short-term external debt stock data. Abroad, important economic indicators such as U.S. industrial production, capacity utilization rate, factory orders, and durable goods orders are expected to be announced.

Technical Analysis Insights

Analysts indicate that according to the technical outlook of the BIST 100 index, levels of 10,600 and 10,500 are identified as support points, while 10,800 and 10,900 points are considered resistance points. These levels are critical for investors and may be effective in determining the direction of the index.