Index contract starts the day with gains in VIOP

The December-dated index contract traded at 8,012.00 points in the opening session, 0.1 percent above the previous normal session close.

The index contract, which followed a bullish trend yesterday, completed the normal session at 8,006.00 points, 0.7 percent above its previous close. The index contract continued its rise in the evening session, reaching 8,016.75 points.

Analysts stated that global markets started the last trading day of the year with a mixed trend, noting that expectations that the US Federal Reserve (Fed) could begin interest rate cuts in March of next year remain strong.

On the other hand, the Capital Markets Board (SPK) bulletin released last night domestically included an announcement regarding inflation accounting. Accordingly, it was decided that issuers subject to the Board's financial reporting regulations and capital market institutions will implement inflation accounting by applying the provisions of Turkish Accounting Standard 29, starting with annual financial reports for accounting periods ending as of December 31.

Analysts stated that the Central Bank of the Republic of Turkey's (TCMB) Monetary and Exchange Rate Policy Text and foreign trade balance data will be monitored domestically today, noting that from a technical perspective, 8,100 and 8,200 points are resistance levels for the index contract, while 8,000 and 7,900 levels are in the support position.

News Source: 12punto