Borsa Istanbul ended the day at a record high

Borsa Istanbul broke the horizontal course it had been following for a while and completed the day at a record high of 9,618.83 points. The BIST 100 index increased by 489.81 points compared to the previous close, while the total trading volume was ₺123.6 billion ($3.86 billion).

The banking index gained %4.47 and the holding index gained 5.43%.

While all sector indices rose, insurance gained the most with 7.21% percent.

The BIST 100 index, which completed the day at a record high of 9,618.83 points, also realized the highest daily and weekly closing of all time.

On the other hand, according to the data announced today, non-farm employment in the US increased by 303 thousand people in March, exceeding expectations, while the unemployment rate decreased from 3.9% to 3.8%.

Average hourly earnings, which are closely watched by the US Federal Reserve (Fed), also increased by 0.3% to $34.69, in line with expectations.

Recalling yesterday's verbal guidance from Fed officials that the bank may cut interest rates less than expected, analysts said the latest employment data showed that the labor market in the country continues to remain resilient despite the effects of high interest rates.

Pointing out that the tight stance in the labor market strengthens the Fed's view that there is no need to rush to cut interest rates, analysts noted that the bank may delay the expected rate cuts this year.

Analysts stated that Borsa Istanbul will be open until 12.40 pm on Tuesday, April 9, ahead of the Ramadan Eid holiday next week.

Stating that the interest rate decision of the European Central Bank (ECB) abroad, inflation in Germany and China in the USA will stand out next week, analysts noted that technically, the level of 9,650 in the BIST 100 index is resistance, 9,200 and 9,100 points are in support position.

Source: Newsroom & AA