[89262] Rises in the Turkish Stock Exchange: The banking sector leads and momentum spreads to other sectors

The momentum on the Istanbul Stock Exchange is strengthening: From sector analysis to the overall market trend

Trading on the Istanbul Stock Exchange (BIST) is characterized today by significant optimism, with positive momentum spilling over from the banking sector to the rest of the economy. According to the Borsa Haber Hisse channel, which specializes in technical analysis, the banking index remains within a clear "rising channel." According to the channel, banks present a positive picture as long as they manage to close above the horizontal resistance level of 18,660 points. Maintaining this level is expected to lead the index toward the 20,070 area and reaching an upper target of 21,900 points, while undergoing technical corrections along the way.

At the same time, the Borsa Hisse Haber channel, which analyzes broad market sentiment, notes that the rises in the stock exchange are no longer limited to banks alone. According to the channel, "the momentum has spread across all sectors": companies in the fields of defense, transportation, energy, and holdings are showing green performance.

The forecast for the coming week looks prepared for the 15,200-point threshold in the BIST general index. Borsa Hisse Haber estimates that a second attempt to test this level is on the horizon, and a breakout of this threshold may signal to the market an increased expectation for an interest rate cut, which currently constitutes the central factor being priced in by investors.