VIOP Index Contract Starts Week with Gains

The June futures contract based on the BIST 30 index at the Borsa Istanbul Futures and Options Market (VIOP Index) began the week on a positive note, opening at 12,059.00 points, up 0.2% from the previous session’s close.

Market Performance and Trends

In the opening session, the June futures index contract traded at 12,059.00 points, marking a 0.2% increase from Friday’s normal session close of 12,035.00 points. Despite a sales-oriented trend on Friday that saw the index drop 1.5% to 12,035.00 points, it partially recovered in the evening session, rising 0.1% to 12,044.75 points.

Global Market Influence

Analysts attributed the positive start of global markets to the easing inflation expectations in the USA, as indicated by the University of Michigan’s latest report. This week, investors are closely watching a heavy data agenda, particularly the growth data from the USA.

Regulatory Developments

On the regulatory front, Minister of Treasury and Finance Mehmet Şimşek announced nearing completion of a new regulation aimed at increasing housing supply through urban transformation financing. This regulation, to be enacted by the Capital Markets Board (CMB), will enable real estate investment funds to invest in real estate projects.

Key Data and Technical Levels

Today, analysts are monitoring domestic data, including the real sector confidence index and capacity utilization rate. Internationally, the Ifo business confidence index data from Germany will be significant.

Technically, analysts identified resistance levels for the index contract at 12,150 and 12,300 points, while support levels are noted at 12,000 and 11,800 points.

This positive opening reflects optimism in the market, influenced by both global economic indicators and domestic regulatory advancements.

Source: Trthaber / Prepared by Irem Yildiz

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