The stock market ended the day with a decline.


BIST 100 index in Borsa Istanbul finished the day at 5,384.56 points, depreciating by 1.13 percent.

While the BIST 100 index decreased by 61.66 points compared to the previous close, the total transaction volume was 86.3 billion liras. While the banking index gained 0.39 percent, the holding index lost 1.21 percent. Among the sector indices, communication with 4.04 percent gained the most, and stone and soil were the ones that lost the most with 3.14 percent. While non-farm employment in the USA increased by 311,000 in February, exceeding expectations, the unemployment rate rose from 3.4 percent to 3.6 percent. Average hourly earnings, which the US Federal Reserve (Fed) watched carefully, increased by 0.2 percent to $ 33.09 in the same period. Market expectations were for the average hourly earnings to increase by 0.3 percent in the said period, as in January. Analysts said that the below-expected rise in wages may cause the Fed to reconsider its aggressive stance on rate hikes. After the employment data, the expectations that the Fed will raise interest rates by 50 basis points at this month’s meeting in pricing in money markets decreased to 49 percent. Analysts stated that global stock markets followed a negative course with increasing concerns about the banking sector in the USA, and that the European Central Bank (ECB) President Christine Lagarde’s statements, the minutes of the Bank of Japan’s meeting and the expected Turkey assessment by Fitch Ratings will be the focus of the markets. Stating that the data agenda will be followed by the balance of payments, market participants survey, budget balance abroad, inflation in the USA, retail sales, industrial production, inflation and industrial production in the Euro Zone, the analysts stated that the data agenda will be followed by BIST from a technical point of view. He reported that 5,340 and 5200 levels in the 100 index are in the support position, and 5,500 and 5,600 points are in the resistance position. Economists participating in the AA Finans Balance of Payments Expectation Survey expect the current account to have a deficit of 8.8 billion dollars in January. Economists expect the current account to have a deficit of 43.3 billion dollars at the end of the year.

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