BIST 100 Shows Limited Recovery Led by Tech Rally

Borsa İstanbul opened the day with a modest recovery following yesterday's sharp sell-off, while global market sentiment remains mixed amid volatility in technology stocks. Despite the rise in the index, the pullback in the construction sector and cautious stance ahead of foreign data releases are notable.

Modest Gains Led by Technology Sector

The BIST 100 index rose by 11.71 points, or 0.08%, to open at 13,786.47 points. The index, which closed yesterday at 13,774.77 points with a 1.21% loss, saw the banking index gain 0.05%, while the holding index moved sideways. Sectoral divergence was prominent, with performances shaping up as follows:

■Best performing sector: Information Technology with 0.60%

■Worst performing sector: Construction with -0.79%

Global Mixed Sentiment and Data Agenda

Despite easing geopolitical tensions, global markets are following a mixed course due to declines in stocks of chip manufacturing companies. With a quiet domestic data agenda, investor focus has shifted entirely to US data. Key data points to watch include:

■US Wholesale Inventories

■House Price Index

■Richmond Fed Manufacturing Index

■New York Fed Consumer Confidence Index

Technical Resistances and VİOP Outlook

Analysts state that technically, 13,900 and 14,000 points act as strong resistance for the BIST 100 index, while 13,700 and 13,600 points serve as critical support levels. The direction of the break in this band in the short term will determine the trend's course. The VİOP index contract started the day flat, reflecting uncertainty in the market.

The modest rebound in the BIST 100 suggests that markets are not only eyeing technical corrections but also closely monitoring the impact of incoming US data on global liquidity. As hawkish FED expectations persist, the weakness in the construction sector reflects underlying concerns regarding credit costs and restructuring processes. Failure to hold above the 13,600 support could trigger deeper profit-taking waves.