BIST 100 Slides 208.62 Points After Fed Holds Rates; Markets React

BIST 100 closed lower by 208.62 points following the Fed's decision to hold rates.

Fed Decision and Market Reaction

The U.S. Federal Reserve kept the policy rate at 3.50-3.75%, approving the decision 9-3. This increased uncertainty in monetary policy, sparking volatility in markets.

BIST 100 and Sector Performance

■BIST 100 fell 208.62 points from the previous close, with a total trading volume of 162.4 billion lira.

■The Banking Index dropped 2.41%, while the Holding Index gained 0.25%.

■Among sector indices, Mining led with 3.29% gains, while IT lagged with 4.55% losses.

Global Economic Indicators

■U.S. Q2 GDP grew 1.5%, below expectations.

■Core PCE price index rose 0.1% in June and 3.3% YoY, slowing from the previous month.

■Reduced government spending, weaker investment and export momentum slowed growth, while increased consumer spending partially supported it.

Technical Analysis and Outlook

Support levels for BIST 100 are set at 13,200 and 13,100, with resistance at 13,400 and 13,500. Tomorrow’s data agenda includes BoJ rate decision and German unemployment figures.

Markets are likely to see the negative trend replaced by a more positive outlook as expectations of the Fed’s rate policy shift. Investors will continue to hunt opportunities, especially in technology and energy sectors.