Borsa Istanbul VIOP starts the day flat

The December-dated index contract traded at the 8,580.00 level in the opening session, parallel to the previous normal session close.

Yesterday, the index contract followed a bearish trend, completing the normal session at 8,580.00 points, 2.4 percent below its previous close. The index contract continued its decline in the evening session as well, reaching 8,576.75 points.

Analysts stated that increasing uncertainties regarding which month the US Federal Reserve (Fed) will begin interest rate cuts next year are dampening risk appetite in global equity markets.

Stating that pricing in money markets suggests a 70 percent probability that the Fed will begin interest rate cuts in March, analysts noted that, conversely, cautious statements from Fed officials support the possibility that these steps could be further delayed.

Analysts noted that the domestic data agenda is quiet today, while inflation in the Eurozone and building permits and housing starts in the US will be monitored abroad, adding that technically, 8,500 and 8,400 points are support levels for the index contract, while 8,600 and 8,700 levels are in the position of resistance.

News Source: 12punto