August Futures Contract Based on BIST 30 Index Opens at 12,439.25 Points with a 0.1% Increase
The August futures contract based on the BIST 30 index at Borsa Istanbul Derivatives Market (VIOP) began the week with a 0.1% increase, opening at 12,439.25 points. During the opening session, the August futures index contract traded at 12,439.25, which was 0.1% higher than the previous normal session close.
On Friday, the index contract experienced selling pressure, closing the normal session 0.7% lower at 12,428.75 points. During the evening session, the index contract continued its downward trend, dropping to 12,421.00 points.
Analysts noted that strengthening expectations that the far-right might struggle to secure an outright majority in the French elections have supported risk appetite in global equity markets. They also highlighted that this week, investor focus is on a dense schedule of economic data releases and important central bank officials’ statements, influencing market sentiment.
Today, analysts pointed out that Purchasing Managers’ Index (PMI) data for manufacturing industries domestically and globally, along with inflation data from Germany, will be closely monitored. From a technical standpoint, analysts announced that 12,400 and 12,300 points are support levels for the index contract, while 12,500 and 12,600 levels serve as resistance.
Source: Trthaber / Prepared by Irem Yildiz