Global Risk Appetite Revives, Borsa Istanbul Starts Week with Gains

Borsa Istanbul started the first trading day of the week with a bullish stance, supported by increased risk appetite in global markets. Following the selling pressure seen on Friday, the index gave recovery signals at the opening of the new week, while the overall outlook was bolstered by the leadership of banking stocks.

Strong Opening in BIST 100 and Sectoral Performance

The BIST 100 index, which closed on Friday with a decline of 0.95% at 13,943.87 points, turned upwards at today's opening. The index started at 14,028.40 points, gaining 84.53 points compared to the previous close, and secured a 0.61% value gain in the initial transactions. A notable divergence is evident among sector indices:

■The banking index was one of the strongest performers of the day, gaining 1.44%.

■The holding index rose by 0.80%, in line with the general market outlook.

■The transportation index was the top gainer sector-wise, increasing by 2.06%.

■Conversely, the financial leasing and factoring index recorded the largest decline, falling by 3.76%.

Global Markets and Data Agenda

In global equity markets, an increase in risk appetite is observed following the pause in reciprocal attacks between the US and Iran. This situation brought buying interest to emerging market stocks on the first trading day of the week. With a quiet domestic data agenda, investor focus has shifted to critical international data. Analysts indicate that Germany's Ifo business climate index, US durable goods orders, and the Dallas Fed manufacturing index will determine global market volatility.

Technical Resistances and Supports

Technically, the critical levels to watch for the BIST 100 index have been determined as follows:

■Resistance Levels: 14,200 and 14,300 points.

■Support Levels: 14,000 and 13,900 points.

Markets are reacting to this situation as a reflection of the easing in swap rates and the acceleration of portfolio flows due to the de-escalation on the US-Iran front. HFT algorithms responded instantly to the volume surge in the banking sector with positive pricing following the 1.44% increase; however, for the index to break the 14,200 resistance, foreign inflows need to support this technical reaction.