Index contract starts the week with a decline in VIOP
In the Borsa Istanbul Derivatives Market (VIOP), the December-dated contract based on the BIST 30 index started the week at 8,707.50 points, down 0.9 percent.
12punto
The December-dated index contract traded at 8,707.50 in the opening session, 0.9 percent below the previous normal session close.
On Friday, the index contract followed a bullish trend, completing the normal session at 8,789.25 points, 2 percent above its previous close. The index contract stood at 8,779.25 points in the evening session.
Analysts stated that in global equity markets, the emphasis by US Federal Reserve (Fed) officials that it is still too early to consider aggressive interest rate cuts has dampened risk appetite, adding that eyes domestically are turned to the Central Bank of the Republic of Turkey's (TCMB) interest rate decision this week.
On the other hand, international credit rating agency Moody's announced on Friday that no assessment was made regarding Turkey's credit rating, while it currently maintains Turkey's credit rating at "B3" and the outlook as "stable".
Economists participating in the AA Finance expectation survey regarding the TCMB's Monetary Policy Committee (PPK) meeting estimate that the bank will increase the one-week repo auction rate (policy rate) by 250 basis points to 42.50 percent.
Analysts stated that the international investment position and housing price index will be monitored domestically today, and the Ifo business climate index in Germany will be followed abroad, noting that technically, 8,700 and 8,600 points are support levels for the index contract, while 8,800 and 8,900 levels are in the position of resistance.