BIST 30 index-based contract starts the day with a 0.5 percent increase

The December-dated index contract traded at 8,043.75 in the opening session, 0.5 percent above the previous normal session close.

The index contract, which followed a volatile course yesterday, completed the normal session at 8,006.00 points, 0.4 percent above its previous close. The index contract continued its rise in the evening session, climbing to 8,026.50 points.

Although trading volumes remain at low levels in global markets following the Christmas holiday, the persistence of expectations that the US Federal Reserve (Fed) may begin interest rate cuts in March of next year continues to support risk appetite.

On the other hand, the Bill on the Approval of the Ratification of the Protocol on Sweden's Accession to the North Atlantic Treaty (NATO) was accepted yesterday in the Turkish Grand National Assembly (TBMM) Foreign Affairs Committee.

Analysts noted that the domestic data agenda is quiet today, while in international markets, the Richmond manufacturing industry index data in the US will be monitored, adding that from a technical perspective, 8,000 and 7,850 points are support levels for the index contract, while 8,100 and 8,200 levels are in the position of resistance.

News Source: 12punto