Ongoing Decline in Borsa İstanbul: BIST 100 Index is Suffering Losses

The Negative Trend Continues on Borsa İstanbul

In the global markets, uncertainties regarding the trade relations between the US and China continue to have a negative impact on investors. This situation is contributing to the deepening of the selling trend on Borsa İstanbul. The BIST 100 index closed on Monday, starting the new week with a loss of %1.53, reinforcing the negative trend that has persisted for two weeks.

Performance Throughout the Day

The BIST 100 index initially exhibited a positive outlook, but this increase was quickly replaced by selling pressure. At the open today, it showed an increase of 11.47 points and %0.11 compared to the previous close, rising to 10,567.66 points. However, by the afternoon, this positive atmosphere changed rapidly. As of 1:00 PM, the index had decreased by 74.62 points and %0.71, falling to 10,481.57 points.

Distribution of Sector Indices

During the first half of the day, with a trading volume of 49.4 billion lira, the banking index dropped by %1.1, while the holding index recorded a decline of %0.15. The sector index that gained the most value was tourism, showing an increase of %2.82. The largest loss was observed in the communications sector with %6.07.

Technical Analysis and Conclusions

In the afternoon, the BIST 100 index traded at 10,374.05 points with an increased selling pressure leading to a %1.75 decline. During the day, the index tested maximum levels of 10,594.21 points and fell to a minimum of 10,361.20 points. Analysts indicate that according to technical analysis, 10,400 and 10,300 points serve as support, while 10,600 and 10,700 points are identified as resistance levels.