BIST 100 index on Borsa Istanbul started the day at 1,220.88 points, up 0.86 percent


The BIST 100 index gained 10.47 points (0.86 percent) at opening today, reaching 1,220.88 points.

The banking index rose 1.49 percent while the holdings index rose 0.58 percent. While forest, paper and printing made the most gains among the sector indices with an increase of 1.88 percent, no individual sector index lost any ground.

Yesterday, the BIST 100 index closed at 1,210.41 points, an increase of 0.42 percent and the highest closing in eight and a half months.

Analysts said that despite the continuing uncertainty around the US stimulus package, the ongoing negotiations have increased risk appetite, while news around a possible new type of coronavirus vaccine is also buoying outlooks.

However, analysts also insisted that concerns about the increasing number of cases in Europe and the economic effects tightening measures continue to be monitored, as are statements coming from European Central Bank (ECB) President Christine Lagarde in terms of clues regarding the continuation of the bank’s supportive monetary policy.

Analysts noted the relatively sparse data-release schedule today, with the US the Fed Beige Book Report to be followed by Lagarde’s statements. They also suggested that should the BIST 100 index close above 1,225, an increase to 1,240 points could be on the cards.