The BIST-100 Index started Wednesday on a negative trend, thereafter following a fluctuating intraday course. The Index closed at 4,977.64, up 0.31%. After Fed Chairman Powell pointed out that the slowdown in interest rate hikes might start in December global risk appetite regained strength, while U.S. Stocks closed the day with strong rises varying between 2-4%. The BIST ended the day with a limited rise, despite the negative effect of the decline in five stocks of high index weight of close to 40 points. While the BIST-100's strong ongoing rally of two months has lost momentum, the uptrend seems set to continue with interim corrections until the next results season once the 5,000 resistance is overcome. Yet, after a strong short-term rise, short-term profit-taking is expected. In an inflationary environment, the BIST being the only alternative investment tool among TRY-based assets, plus resulting strong domestic investor demand remain the key driving force behind the firm rise. The VIOP-30 Index closed the evening session up 0.65%. Relative to the BIST close, U.S. futures were up by between 2.5-4.5% and DAX futures were up around 1.5%. There was a buying trend among Asian Stock Markets. Locally the Benchmark Index is likely to start the day with a rise and continue the uptrend by testing new intraday peaks. SUPPORT: 4,960 - 4,915 RESISTANCE: 5,016 - 5,070.
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Yasal Uyarı
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