Stock market starts the week with gains

On the Borsa Istanbul Derivatives Market (VİOP), the April-dated contract based on the BIST 30 index traded at 10,417.00 points, marking a 1.8 percent rise at the start of the week.

The April-dated index contract traded at 10,417.00 points in the opening session, 1.8 percent above the previous normal session close.

On Friday, the index contract followed a bullish trend, closing the normal session at 10,230.50 points, 1.3 percent above its previous close. In the evening session, it stood at 10,188.00 points.

Analysts noted that global equity markets began the week with a negative trend ahead of the release of US inflation data, while stating that domestic industrial production and current account balance data have become the focus of investors this week.

Meanwhile, international credit rating agency Fitch Ratings upgraded Turkey's credit rating from "B" to "B+" after markets closed on Friday, and revised the outlook from "stable" to "positive".

In its statement, Fitch Ratings reported that the rating upgrade was driven by increased confidence in the durability and effectiveness of the policies implemented since June 2023.

Analysts stated that the data agenda abroad is quiet today, while labor force statistics and trade sales volume data will be monitored domestically, adding that from a technical perspective, 10,500 and 10,600 points are resistance levels for the index contract, while 10,400 and 10,300 levels are in the support position.

News Source: AA