#MarketSentimentToday
Summary of Last Week:
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The news that the Central Bank of China stopped gold purchases and the rise in bond interest rates following the US data caused a decrease in the price of ounce gold. The European Central Bank reduced policy rates by 25 basis points due to the downward trend in inflation, making it the first interest rate cut in about five years. In light of these developments, the US 10-year bond interest completed the week at 4.4%, while the ounce price of gold fell below 2,300 dollars. Nasdaq gained 2.4%, S&P 500 gained 1.3% and Dow Jones gained 0.3%.
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Domestically, CPI exceeded expectations with 3.37% monthly and 75.45% annually. Minister of Treasury and Finance Mr. Şimşek stated that the worst in inflation is over and that a permanent decline will begin in June. It was stated that the work on the taxation of stock exchange and crypto assets has reached the final stage and it is planned to collect a tax on the transaction instead of withholding.
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After seeing the lowest point of 10,112 and the highest point of 10,610, BIST 100 index lost 2.5% of its value and completed the week at 10,138.97 points. While the technology index closed the week with a 2.6% gain, the services index lost 0.1%, the industrial index lost 2.4% and the banking index lost 6%. Gram gold rose to 2,382 levels following the withdrawal of ounce gold.
