BIST 100 index finished the day with an increase
Quick Look
- While the BIST 100 index completed the day with an increase of 73.40 points, US inflation data and the Fed's interest rate increase expectations were the focus of the markets.
- The decline in oil prices supported global risk appetite.
AI-generated summary
Why It Matters
CPI data announced in the USA showed that inflationary pressures continued. The probability of the Fed increasing interest rates has reached 88% in the markets.
While the BIST 100 index increased by 73.40 points compared to the previous closing, the total transaction volume reached 223.1 billion lira.
The banking index gained 1.25 percent and the holding index gained 0.41 percent.
Among the sector indices, the most profitable was determined as financial leasing factoring with 4.35 percent, and the most losing was determined as informatics with 3.25 percent.
According to the data announced today, the Consumer Price Index (CPI) in the USA increased by 0.4 percent on a monthly basis and 3.4 percent on an annual basis in August, in line with expectations. Although the core CPI in the country increased by 2.4 percent, it recorded the slowest increase since March 2021.
While the announced data reveal that inflationary pressures continue in the country, the probability that the US Federal Reserve (Fed) will increase interest rates next week has increased to 88 percent in the pricing in money markets.
Despite the expectations that the Fed would increase interest rates, the decline in oil prices and the slowest increase in core CPI since March 2021 increased the risk appetite in global markets.
The news flow that Oman and Iran might reach an agreement to temporarily manage the passage through the Strait of Hormuz was effective in the decline in oil prices.
Analysts stated that an intense data agenda will be followed next week, especially the Central Bank of the Republic of Turkey Monetary Policy Committee meeting summary, housing price index and budget balance in the country, and the Fed's interest rate decision as well as the interest rate decisions of the Bank of Japan and the Bank of England abroad, and noted that technically, 14,500 and 14,600 points in the BIST 100 index are resistance and 14,300 and 14,200 points are support.
What to Watch
AI outlook — possibilities, not facts
The Fed is expected to increase interest rates next week.
Likely · Within weeks
Open Questions
- Will the Fed raise interest rates next week?
- Will BIST 100 be able to break resistance levels?
