Index contract starts the day with gains in VIOP

The December-term contract based on the BIST 30 index on the Borsa Istanbul Derivatives Market (VIOP) started the day with a 0.1 percent increase at 9,670.00 points.

The February-term index contract traded at 9,670.00, 0.1 percent above the previous normal session close during the opening session.

Yesterday, the index contract followed a volatile course and completed the normal session at 9,663.75 points, 0.3 percent above its previous close. The index contract rose to 9,666.75 points in the evening session.

Analysts stated that global equity markets are following a positive trend as corporate earnings continue to exceed expectations during the busy earnings season, despite guidance from US Federal Reserve (Fed) officials to remain cautious regarding interest rate cuts.

Stating that the Treasury cash balance will be monitored domestically today, and the housing price index in the UK, industrial production in Germany, and the foreign trade deficit in the US will be followed abroad, analysts noted that from a technical perspective, the 9,700 and 9,800 levels are resistance, while 9,600 and 9,500 points are support levels for the index contract.

News Source: AA