Index contract starts the day with gains in VIOP

The February-dated contract based on the BIST 30 index on the Borsa Istanbul Futures and Options Market (VIOP) started the day with a 0.1 percent increase at 9,697.25 points.

The February-dated index contract traded at 9,697.25 in the opening session, 0.1 percent above the previous normal session close.

Yesterday, the index contract followed a bullish trend and completed the normal session at 9,690.25 points, 0.5 percent above its previous close. The index contract rose to 9,694.25 points in the evening session.

Analysts stated that risk appetite remains strong in global equity markets as data released in the US points to a strong stance in the country's economy, supporting "soft landing" scenarios, and as corporate earnings worldwide continue to exceed expectations.

On the other hand, the new Governor of the Central Bank of the Republic of Türkiye (CBRT), Fatih Karahan, held his first "Inflation Report" meeting together with CBRT Deputy Governors Cevdet Akçay and Hatice Karahan. Karahan stated that the reflection of monetary tightening on pricing behavior was stronger than they had anticipated.

Stating that the year-end inflation forecasts for 2024, 2025, and 2026 were maintained as they were in the previous report, Karahan noted that the year-end forecast for 2024 is 36 percent, and the year-end forecast for 2025 is 14 percent.

In addition, the Capital Markets Board (SPK) made regulations regarding the inflation accounting application. With the regulation, an additional 15 days were granted for companies that will go public with 9-month balance sheets. The Board also announced that it has approved the initial public offering of Limak Doğu Anadolu Çimento Sanayi ve Ticaret AŞ.

Analysts stated that industrial production data will be monitored domestically today, and inflation data in Germany will be monitored abroad, noting that technically, the 9,700 and 9,800 levels are resistance, and 9,600 and 9,500 points are support positions for the index contract.