After Borsa İstanbul started the week on a positive note, purchases continued throughout the day.
With the news that Iyi Party Chairman Meral Akşener would sit on the table again in the afternoon’s political traffic, the market priced this development positively and the upward momentum in the stock market continued. In the last hour, the BIST 100 index rose to the limit of 5,400 with a daily increase of 3.5%. The index pulled its daily loss as much as 0.92% at the close, after a short 3% pullback on Friday after Akşener announced she was off the table.
On a sectoral basis, banks played the leading role in the rise of Borsa Istanbul today. The banking index increased by 8% to 4,720 points and regained its declining losses that started in the last week of January.
The rapid rise in banks also pushed up the financials index. Accordingly, financials were among the indexes that gained the most value with an increase of nearly 5%. Holding and machinery were also prominent sectors with an increase of 4%.
The only sector that continues to be negative in Borsa Istanbul today is sports. Mineral products, simple metals and information technologies are among the indices that remain slightly positive and horizontal today.
Banks rank first among the stocks included in the BIST 100 index. According to the latest situation, (IS:ISCTR), (IS:YKBNK), (IS:AKBNK), (IS:TSKB) and (IS:GARAN), the shares that gained the most value. As of now, a small number of shares remained negative, while KMPUR was the opposite of the market, down 4%. (IS:EGEEN), (IS:TSPOR), (IS:BRYAT), (IS:SELEC), (IS:AKSA), (IS:BUCIM) and (IS:KRDMD) were the shares that moved slightly.
Toward the end of the day across Borsa Istanbul, KRGYO, BVSAN, MARKA, ASTOR and UZERB were among the shares that reached the ceiling price today. ULUSE, on the other hand, continues as the only stock traded at the base price in the last hour.
Kudret Ayyıldır from GCM Investment said the following in today’s stock market comment:
“After the sharp decline on Friday, most of the decline was reversed with the effective buying and the index closed the day with 0.92% depreciation. Profit sales on Thursday started to be effective in the index, which tested the 5.350 resistance on Wednesday, but could not break this level. Unexpected political statements on Friday deepened the already weak market perception. However, it is possible to say that the 5.050 level is an important support.
Above, the 5.350 level remains an important resistance. If the index closes above this level, upward strengthening may occur. However, we should not forget that we are still on a directionless course. The political scene will continue to be on the agenda of the markets.”
In foreign markets, Asian indices closed the first day of the week with positive except for Chinese indices. While European indices generally have a positive outlook in intraday transactions, the FTSE 100 diverged negatively from the market and dropped by half a point.
US indices closed last week with buyers. On the other hand, futures indices before the US market opening continue to be mildly bought. European futures, on the other hand, have a negative outlook, except for DAX futures.