Index contract on VIOP starts the week with a flat trend

The February index contract traded at 8,686.25, just below the previous normal session close, during the opening session.

The index contract, which followed a bullish trend on Friday, completed the normal session at 8,686.75 points, 0.9 percent above its previous close. The index contract remained flat during the evening session.

Analysts stated that global equity markets began the week with a mixed trend ahead of the release of US inflation data, noting that in addition to a busy domestic data agenda, the Central Bank of the Republic of Türkiye's (CBRT) "Investor Days" meetings, which will begin this week, have become the focus of investors.

Although expectations remain strong that major central banks worldwide are nearing the end of the hawkish policies they have maintained for nearly the last two years to combat inflation, uncertainties regarding the magnitude and timing of interest rate cuts are complicating pricing.

On the other hand, in addition to the Türkiye assessment report expected from international credit rating agency Moody's on Friday evening, the first meeting of the Investor Days, which the CBRT will host at JPMorgan's headquarters in New York on January 11, will also be closely monitored.

Analysts stated that the Treasury cash balance will be followed domestically today, while Germany's foreign trade surplus and retail sales, and the Eurozone's unemployment rate and retail sales data will be monitored abroad, noting that technically, 8,700 and 8,800 points are resistance levels for the index contract, while 8,600 and 8,500 levels are in the support position.

News Source: AA