Market Watch (Şeker Yatırım)

Outlook:

The BIST100 Index started Monday on a negative trend, weakened throughout the day and closed at 8,699.19, down 1.99%. The Industrial Index lost 2.56% and the Banking Index fell 1.85%. In response to negative factors such as weakening profit expectations for the BIST, postponed CBRT interest rate cut expectations, and ongoing risk in the Middle East, the high return potential of alternative income instruments reduces interest in the bourse. Volume and momentum remain quite weak. We expect the volatile weak course to continue unless a supportive story emerges. In a medium-long term perspective, we maintain our view that it would be appropriate to gradually evaluate the declines as buying opportunities. Global markets started the new week with strong risk appetite. Yesterday, the U.S. and European stock markets closed with increases. This morning, Asian stock markets are mixed, with the U.S. futures and German DAX futures following a positive trend. We expect the global risk appetite to maintain its strength as news flows from the Middle East, election developments in the USA and macroeconomic data support this. The VIOP30 Index increased by 0.35% in the evening session. Locally, we expect the Benchmark Index to start Tuesday flat, and then continue its fluctuating course if selling pressure continues. SUPPORT: 8,600 - 8,500 RESISTANCE: 8,900 - 9,200.
Money Market:
The Lira was negative yesterday, weakening 0.01% against the USD to close at 34.2587. The currency also appreciated by 0.10% against a basket of $0.50 and €0.50. Meanwhile, the local fixed income markets were negative. The ten-year benchmark bond yield fluctuated between a range of 29.12%-29.56%, closing the day at 29.52%, up 40 bps from the previous close.
Headlines:
Central Government Budget data for September will be released today. Having posted a deficit of TRY130 billion in August, we expect the negative trend to continue. Our detailed analysis will be published during the day.
Company News:
Aselsan (ASELS.TI; OP) is set to announce its 3Q24 financials today after the market close.
Sisecam (SISE.TI; OP) has announced that a total of 1,000,000 nominal shares were repurchased within a price range of TRY 37.58 - TRY 37.98 per share (average price TRY 37.84) at the BIST on October 14, 2024. Total repurchased shares to date correspond to 2.28% of the company's capital (including the disposal of a portion of the repurchased shares).

Within the scope of the share buy-back program, Turkish Airlines (THYAO.TI; OP) has bought back the shares with TL 300,000 nominal value on Oct 14, 2024 within a price range of TL 259.25 - TL 261.00 (weighted average TL 260.13) per share on Istanbul Stock Exchange by the Incorporation. Total nominal value of repurchased shares have reached TL 5,441,044 which represents %0.401525 of the Incorporation's capital, following the transaction. We believe that the share repurchase made within the scope of the program will be supportive, and will have a positive impact on the Company's shares (Positive).


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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.