Index contract starts the day with gains in VIOP (March 27, 2024)

The April-dated index contract traded at 9,766.75 in the opening session, 0.1 percent above the previous normal session close.

Yesterday, the index contract followed a bearish trend, completing the normal session at 9,761.00 points, 2.6 percent below its previous close. The index contract continued its downward trend in the evening session, falling to 9,757.00 points.

Analysts stated that uncertainty regarding the timing of interest rate cuts by the US Federal Reserve (Fed) is dampening risk appetite in global equity markets, adding that data to be released in the US for the remainder of the week and guidance from Fed officials are expected to increase volatility in asset prices.

On the other hand, international credit rating agency S&P Global raised its total growth forecast for emerging markets for 2024 from 4.1 percent to 4.2 percent, while increasing its forecast for Turkey from 2.4 percent to 3 percent.

Noting that the domestic data agenda is quiet today, while consumer confidence index data from the Eurozone will be monitored abroad, analysts recorded that technically, the 9,700 and 9,600 levels are support, while 9,800 and 9,900 points are resistance positions for the index contract.

News Source: 12punto