At the opening, the BIST 100 index rose by 58.95 points, or 0.60%, to 9,959.21 points compared to the previous close.

The BIST 100 index on Borsa Istanbul started the week with a 0.60% increase at 9,959.21 points. At the opening, the BIST 100 index rose to 9,959.21 points, up 58.95 points and 0.60% compared to the previous close.

THE BANKING INDEX IS AT THE TOP

The banking index gained 0.98%, while the holding index increased by 0.37%. Among the sector indices, banking was the biggest gainer, while mining saw the largest decline at 1.98%. On Friday, the BIST 100 index, which followed a sales-weighted trend, closed the day down 0.76% at 9,900.25 points.

In global markets, expectations that the U.S. economy could achieve a "soft landing" following the Federal Reserve's (Fed) 50 basis point interest rate cut last week continue to fuel risk appetite.

Analysts report that current pricing in the money markets reflects expectations of an additional 75 basis points rate cut by the Fed by the end of the year, and they noted that volatility could increase following the data in these pricing scenarios.

Analysts stated that today, the financial services confidence index will be monitored domestically, while globally, the Manufacturing and Services Purchasing Managers' Index (PMI) data will be followed, adding that technically, the BIST 10,000 and 10,150 levels are resistance, while 9,900 and 9,700 points are support levels.