VIOP Index Contract Opens Week with 0.5% Increase

The contract based on the BIST 30 index for June maturity at the Borsa Istanbul Futures and Options Market (VIOP) started the week at 11,953.50 points with an increase of 0.5%.

The June futures index contract was traded at 11,953.50 in the opening session, 0.5% above the previous normal session closing.

The index contract, which followed a buyer trend on Friday, completed the normal session at 11,897.25 points, 0.2% above its previous closing. The index contract continued its rise in the evening session and reached 11,912.00 points.

In global markets, expectations of a “soft landing” for the country’s economy gained strength again after the non-farm employment data announced last week in the USA fell below expectations, while the verbal guidance of the US Federal Reserve (Fed) officials throughout the week became the focus of investors.

Meanwhile, after the markets closed on Friday, the American credit rating agency Standard and Poor’s (S&P) upgraded Turkiye’s credit rating from “B” to “B+” and stated, “We anticipate increased portfolio inflows over the next two years, along with a narrowing current account deficit, reduced inflation, and decreased dollarization.”

Analysts stated that the real effective exchange rate in the country, the service sector in Europe abroad and the composite Purchasing Managers Index (PMI) data will be followed today, and noted that technically, 12,000 and 12,200 points in the index contract are in a resistance position, and 11,800 and 11,700 levels are in a support position.

Source: Trthaber / Prepared by Irem Yildiz

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