Stock market rose in the first half of the day

Moving in an upward trend in the first half of the day, the BIST 100 index increased by 3.92 points to 5,557.92 as of 13:00, compared to the previous close. Total transaction volume stood at TL 36.5 billion.

The banking index lost 0.69 percent, the holding index lost 0.26 percent. Among the sector indices, financial leasing and factoring gained the most with 2.38 percent, and electricity with 0.67 percent lost the most.

Analysts reported that a volatile course was observed in global stock markets, despite the strengthening of the expectation that central banks might abandon “hawk” policies soon.

According to the data released yesterday in the USA, analysts stated that the estimates that the labor market may have started to cool have increased, and that the “hawk” pricing in the money markets weakened before the monetary policy decisions of the US Federal Reserve (Fed) to be taken next week.

According to the pricing in the money markets, the projections that the Fed will raise interest rates by 25 basis points on June 14 decreased to 22 percent.

On the other hand, Dr. Hafize Gaye Erkan became the first female president appointed to the Central Bank of the Republic of Turkey (CBRT), while Prof. Dr. Şahap Kavcıoğlu was appointed as the Chairman of the Banking Regulation and Supervision Board (BDDK).

Analysts noted that technically, the 5,700 and 5,850 levels in the BIST 100 index are in the resistance position, and the 5,500 and 5,400 points are in the support position.