How did the stock market start the day?

The Borsa Istanbul Derivatives Market (VIOP) December-term contract based on the BIST 30 index started the day with a 0.5 percent increase at 9,014.75 points.

The February-term index contract traded at 9,014.75, which is 0.5 percent above the previous normal session close, during the opening session.

Following yesterday's volatile trend, the index contract completed the normal session at 8,972.25 points, 0.2 percent above its previous close. In the evening session, it rose by 0.3 percent to 9,003.00 points.

Analysts stated that global markets are following a positive trend as scenarios of a "soft landing" for the US economy gain strength. Pointing out that US stock markets reached record closes yesterday, analysts also noted that expectations for central banks to begin interest rate cuts in March continue to lose momentum, and that hopes that economies can overcome this period without entering a recession are supporting risk appetite.

Noting that today's data to be monitored includes the consumer confidence index in Turkey, the Richmond Fed manufacturing index in the US, and the consumer confidence index in the Eurozone, analysts recorded that from a technical perspective, the 9,100 and 9,200 levels are resistance, while 9,000 and 8,900 points are support levels for the index contract.

News Source: AA