Index contract on VIOP starts the week with gains (29.04.2024)

The April-dated index contract on the Borsa Istanbul Derivatives Market (VIOP) traded at 10,824.75 in the opening session, 0.4 percent above the previous normal session close.

On Friday, the index contract followed a bullish trend, completing the normal session at 10,785.25 points, 2.4 percent above its previous close. The index contract continued its upward trend in the evening session, rising 0.3 percent to 10,814.75 points.

Analysts stated that risk appetite in global equity markets has increased as corporate earnings exceeded estimates, despite the possibility of the US Federal Reserve (Fed) starting interest rate cuts being pushed toward the final quarter. They noted that this week, investors are focused on the Fed's interest rate decision, the subsequent forward guidance from Fed Chair Jerome Powell, and a busy data agenda.

Analysts, who reported that inflation data will be monitored domestically this week, also mentioned that the Turkey assessment report from international rating agency Standard & Poor's (S&P), expected to be released after markets closed on Friday evening, is also on investors' radar.

On the other hand, Minister of Energy and Natural Resources Alparslan Bayraktar announced yesterday that negotiations are underway with the US energy company Exxon Mobil for 2.5 million tons of liquefied natural gas (LNG) worth approximately 1.1 billion dollars.

Analysts stated that the economic confidence index will be monitored domestically today, while inflation in Germany, the consumer confidence index in the Eurozone, and the Dallas Fed manufacturing index in the US will be followed abroad. They noted that, from a technical perspective, 10,900 and 11,000 points are resistance levels for the index contract, while 10,800 and 10,700 levels are support positions.