Index contract at VIOP opens the day with a decline (January 16, 2024)

The index contract at VIOP opened the day with a decline.

The February-dated index contract traded at 9,130.00 in the opening session, 0.2 percent below the previous normal session close.

Yesterday, the index contract followed a bullish trend, completing the normal session at 9,152.00 points, 0.9 percent above its previous close. The index contract continued its rise in the evening session, reaching 9,163.50 points.

Analysts stated that global equity markets are following a negative trend due to ongoing uncertainties regarding the future steps of central banks and escalating tensions in the Middle East, adding that the intense data agenda, along with inflation data to be announced in Germany today, has become the focus of investors.

On the other hand, yesterday (January 15), the Banking Regulation and Supervision Agency (BDDK) announced that banks, as well as financial leasing, factoring, financing, savings finance, and asset management companies, will transition to inflation accounting starting January 1, 2025.

Analysts, noting that the domestic data agenda is quiet today while the unemployment rate in the UK, inflation in Germany, the ZEW economic sentiment index in the Eurozone, and the New York Fed manufacturing index in the US will be monitored abroad, recorded that from a technical perspective, 9,100 and 9,000 points are support levels for the index contract, while 9,200 and 9,300 levels are resistance positions.

News Source: AA