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By News Centre

Istanbul Stock ExchangeBIST 100 index closed the day with a 2.83 percent increase at 8,862.32 points.

BIST 100 index, increased by 243.75 points compared to the previous close, while the total transaction volume reached 97.8 billion lira.

The banking index gained 2.15 percent and the holding index gained 2.92 percent.

While all sector indices increased, trade gained the most with 6.41 percent.

Trump effect on global markets

Global markets are on a positive course as the Republican candidate declared victory in the US presidential elections.Donald Trump

As Trump aims to impose new tariffs, especially on Chinese goods, reduce taxes and increase fossil fuel production, it is anticipated that this will affect asset prices.

Intensive data monitoring will be carried out

Analysts stated that tomorrow, an intensive data agenda will be followed, primarily domestic weekly money and banking statistics, treasury cash balance, and international interest rate decisions of the (Fed) and the (BoE).

While it is almost certain that the Fed will cut the policy rate by 25 basis points at its meeting tomorrow, estimates that the bank will make another rate cut in December are at 67 percent.

UK expected to cut interest rates

Analysts stated that the signals to be received from the policy text and the statements of the bank at the meeting could have an impact on the direction of asset prices, and that clues regarding future policies would be sought.

The BoE is also expected to go 25 basis points.

Analysts stated that from a technical perspective, the resistance levels in the BIST 100 index are 8,900 and 9,000 points, while the support levels are 8,800 and 8,700.