Index contract starts the week with gains in VIOP (20.05.2024)

The June-dated index contract on the Borsa Istanbul Derivatives Market (VIOP) traded at 12,150.50 in the opening session, 0.3 percent above the previous normal session close.

On Friday, the index contract followed a buying-weighted trend, completing the normal session at 12,118.75 points, 3.4 percent above its previous close. The index contract continued its rise in the evening session, increasing by 0.3 percent to 12,150.25 points.

Global markets started the week with a positive trend as optimism grew regarding the US Federal Reserve (Fed) cutting interest rates this year, while eyes in Turkey have turned to the Central Bank of the Republic of Turkey (TCMB) interest rate decision this week.

All economists participating in the AA Finance expectation survey expect the TCMB to keep the policy rate steady at 50 percent. The median of economists' year-end policy rate expectations was calculated at 45 percent.

Analysts noted that the data agenda abroad is quiet today, while the international investment position and foreign Producer Price Index (PPI) data will be monitored domestically, adding that technically, 12,250 and 12,400 points are resistance levels for the index contract, while 12,100 and 12,000 levels are in the support position.

News Source: AA