Index contract opens lower in VIOP (16.04.2024)

The Borsa Istanbul Derivatives and Options Market (VIOP) April-dated index contract traded at 10,520.00 in the opening session, 0.6 percent below the previous normal session close.

Yesterday, the index contract followed a selling trend, completing the normal session at 10,580.25 points, 1.6 percent below its previous close. The index contract continued its downward trend in the evening session, falling to 10,528.50 points.

Analysts stated that global equity markets are following a negative trend due to ongoing tensions in the Middle East and growing concerns that the US Federal Reserve (Fed) may keep policy interest rates at high levels for longer than anticipated, adding that today's busy data agenda, along with statements from Fed Chair Jerome Powell, has become the focus of investors.

Developments at the International Monetary Fund (IMF) and World Bank Spring Meetings, as well as statements from participants, will also be closely monitored today. Treasury and Finance Minister Mehmet Şimşek will attend the meetings representing Turkey. Central Bank of the Republic of Turkey (TCMB) Governor Fatih Karahan will also accompany Şimşek.

Analysts noted that today's agenda includes domestic retail sales, developments at the IMF meetings, Powell's speech, and a busy data schedule, adding that 10,500 and 10,400 levels are support, while 10,600 and 10,700 points are resistance for the index contract.

News Source: AA