The stock market finished the day higher.


In Borsa Istanbul, BIST 100 index gained 1.05 percent and closed the day at 5,438.38 points.

The stock market closed the third trading day of the week (Wednesday, March 8) with rising. While the BIST 100 index increased by 56.49 points compared to the previous close, the total transaction volume was 86.4 billion liras. The banking index gained 7.84 percent and the holding index gained 2.39 percent. Among the sector indices, banking was the most profitable, and the most losing was mining with 3.06%. Analysts stated that a fluctuating course was observed in the global stock markets, with the “hawk” tone coming to the fore in the statements made by Fed Chairman Jerome Powell in the US Senate. According to the ADP Research Institute’s national employment report, private sector employment in the US increased by 242,000 in February, above market expectations. With Powell’s statements and private sector employment data in the pricing in the money markets, the US Federal Reserve’s (Fed) interest rate hike probability of 50 basis points was found at 74 percent at this month’s meeting, while the pricing that the final interest rate could go up to 6 percent gained strength. Powell’s statements in the House of Representatives today, analysts who said that the Fed’s Beige Book Report is at the focus of the markets, said that the volatility in the markets may continue. Analysts stated that weekly money and bank statistics in the country, growth in Japan, inflation in China and weekly unemployment applications in the USA will come to the fore on the data agenda tomorrow. He noted that 5,600 points are in the resistance position.

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