Market Watch (Şeker Yatırım)

The BIST100 Index started Friday on a positive trend, but failed to maintain this strength, remaining weak throughout the day. the Index closed at 9,097.15, down 1.05%. The Banking Index lost 2.68% and the Industrial Index lost 0.06%. On a weekly basis, the BIST100 decreased 2.96% to end its 8-week rising streak, while the Industrial Index lost 0.44%, and the Banking Index lost 6.49%. We consider the decline in the BIST100 Index, which has gained 30% in value without any significant correction since the last week of 2023, normal and healthy. Although we observe a loss of momentum in the BIST100, it continues to trend above average on a weekly basis. However, as we enter the month of local elections, factors such as pre-election uncertainty, expectations of post-election additional tightening, questions over inflation accounting, and deposit interest becoming attractive again are limiting interest in the BIST. For these reasons, we think that profit-taking may continue in the short term. For the medium term, we maintain our view that possible sharp withdrawals will present buying opportunities as rational policies continue to be implemented and our country risk premium, CDS, is withdrawn. This week, domestic markets will also follow International Rating Agency Fitch's assessment of Turkey on Friday evening. Market expectations are for the outlook to be revised from stable to 'positive'. There may be optimism in the market ahead of the decision. On the global front, while risk appetite has remained strong, major stock markets mostly ended the week with increases. This morning, while the U.S. futures are generally negative, German DAX futures and Asian Stock Markets are positive. In general, we expect the markets to continue finding direction from data releases and statements from Fed members. This week, global PMI data will be followed on Tuesday, with Fed Chairman Powell's semi-annual presentation on Wednesday and Thursday, and the U.S. non-farm employment data set on Friday. On the domestic macroeconomic front, inflation data for February is out today. The market expectation is for CPI to rise 3.98% monthly and 66.20% annually in February. We expect monthly inflation of 3.75% and annual inflation of 66%. The VIOP30 Index ended the Friday evening session up 0.17%. Locally, we expect the Benchmark Index to start Monday with a limited negative trend and try to maintain its uptrend if profit-taking is seen during the day. SUPPORT: 9,060 - 8,750 RESISTANCE: 9,250 - 9,400.

Şeker Yatırım Menkul Değerler A.Ş.
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                               Yasal Uyarı
 
  Burada yer alan yatırım bilgi, yorum ve tavsiyeler yatırım danışmanlığı kapsamında değildir.Yatırım danışmanlığı hizmeti ; aracı kurumlar, portföy yönetim şirketleri, mevduat kabul etmeyen bankalar ile müşteri arasında imzalanacak yatırım danışmanlığı sözleşmesi çerçevesinde sunulmaktadır.Burada yer alan yorum ve tavsiyeler, yorum ve tavsiyede bulunanların kişisel görüşlerine dayanmaktadır.Bu görüşler mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabılır.Bu nedenle, sadece burada yer alan bilgilere dayanılarak yatırım kararı verilmesi beklentilerinize uygun sonuçlar doğurmayabilir.