Index contract starts the day with gains in VIOP (30.05.2024)

The Borsa Istanbul Derivatives Market (VIOP) June-dated index contract traded at 11,900.00 in the opening session, 0.2 percent above the previous normal session close.

Yesterday, the index contract followed a bearish trend, completing the normal session at 11,882.75 points, 1.6 percent below its previous close. The index contract partially recovered its losses in the evening session, rising to 11,896.00 points.

Analysts stated that global equity markets are following a negative trend due to continued uncertainty regarding the timing of interest rate cuts by the US Federal Reserve (Fed) and the fact that the country's 10-year bond yields have reached a one-month high, adding that a busy data agenda, primarily growth figures in the US, has become the focus of investors today.

Stating that the Gross Domestic Product (GDP) to be announced in the US today could provide signals regarding the steps the Fed will take in the coming period, analysts noted that core personal consumption expenditures data in the country could also be influential on the direction of the markets.

On the other hand, the summary of the Monetary Policy Committee (MPC) meeting of the Central Bank of the Republic of Türkiye (TCMB) to be published domestically today is on the radar of investors.

Analysts noted that a busy data agenda will be followed both domestically and abroad today, and stated that from a technical perspective, the 12,000 and 12,100 levels are resistance, while 11,800 and 11,700 points are support positions for the index contract.

News Source: AA