Turkey’s BIST 100 rises as central bank raises inflation forecast

Turkey’s BIST 100 index rose 144.77 points to finish the trading day higher, with total trading volume of 137.9 billion lira.

Gains were broad, though bank shares fell 0.70% and holding companies rose 1.02%.

The central bank raised its year-end inflation forecast to 29.5%, up from 28%.

The change matters because it signals the bank now expects inflation to be higher by the end of the year.

Overseas, Jensen Huang’s resignation as Nvidia’s chief executive added pressure on technology shares, while European markets rose with support from strong company results.

Investors will watch upcoming Turkish economic data, including a survey of market participants and the current account balance, as well as euro area trade and growth figures and US producer prices.

Analysts identified 11,900 and 12,000 points as resistance levels for the BIST 100, and 11,700 and 11,600 as support levels.