BIST 30 index contract in VIOP starts the week with a slight decline. Analysts are monitoring interest rate decisions

The February-term index contract traded at 8,922.50 in the opening session, 0.3 percent below the previous normal session close.

The index contract, which was subjected to selling pressure on Friday, completed the normal session at 8,953.00 points, 0.4 percent below its previous close. In the evening session, the index contract was at the 8,946.50 point level.

Analysts stated that global equity markets started the week with a mixed trend as uncertainties regarding the future monetary policies of central banks make pricing difficult. They expressed that central bank interest rate decisions and a busy data agenda both domestically and abroad will be the focus of investors throughout the week.

Economists participating in the AA Finance expectation survey estimate that the Central Bank of the Republic of Turkey (TCMB) will increase the one-week repo auction interest rate (policy rate) by 250 basis points to 45 percent.

Stating that the foreign Producer Price Index (PPI) and central government debt stock will be followed domestically today, and leading index data in the US will be followed abroad, analysts noted that from a technical perspective, the 8,900 and 8,800 levels are support, and 9,000 and 9,100 points are resistance for the index contract.

News Source: AA