Index contract starts the day with gains in VIOP (May 3, 2024)

The June-dated index contract on the Borsa Istanbul Derivatives Market (VIOP) traded at 11,899.75 in the opening session, 0.2 percent above the previous normal session close.

Yesterday, the index contract followed a bullish trend, completing the normal session at 11,880.00 points, 1.4 percent above its previous close. The index contract continued its rise in the evening session, reaching 11,892.50 points.

Analysts stated that global equity markets are continuing to search for direction following the US Federal Reserve's (Fed) decisions on Wednesday, noting that data from the employment report to be released in the US today is expected to influence investor decisions.

On the other hand, while inflation data in Turkey has become the focus of investors today, economists participating in the AA Finance expectation survey estimate that the Consumer Price Index (CPI) will increase by 3.22 percent in April.

Additionally, the assessment of Turkey by the international credit rating agency S&P, which is expected to be announced this evening after the markets close, will also be closely monitored.

Analysts noted that a busy data agenda will be followed today, primarily inflation in Turkey and the employment report in the US, and stated that from a technical perspective, 11,900 and 12,000 points are resistance levels for the index contract, while 11,800 and 11,700 levels are support positions.

News Source: AA