Market Watch (Şeker Yatırım)

Market Watch - Wednesday, January 17, 2024
Outlook:
The BIST100 Index started Tuesday on a positive trend, fluctuating in a narrow band throughout the day, and closing down 0.15% at 8,032.17. While the Industrial Index rose 0.49%, the Banking Index continued its negative divergence, losing 1.71%. We find it normal and healthy to see profit realization in the Banking Index, which has gained over 20% year to date. The market may continue to fluctuate in the short term. Yet, as long as rational policies continue to be implemented and foreign investor interest continues, we expect withdrawals to be considered buying opportunities for the medium term. The strengthening of global risk appetite in the mid-term and the rise in fund flows towards EMs will also likely support the BIST. On the global front, yesterday the U.S., European, and Asian Stock Markets closed with declines, while this morning the U.S. futures and German DAX futures are sold, and Asian Stock Markets are mixed. The VIX Index is at around 13, indicating mild selling pressure in the U.S. Stock Markets. In general, we expect economic data and statements from Fed members to continue impacting risk appetite. Today, CPI in the Eurozone and industrial production and capacity utilization data in the USA will be followed. The VIOP30 Index ended the evening session down 0.40%. Locally, we expect the Benchmark Index to start Wednesday down, yet to maintain the overall uptrend with buying following any intraday retreats. SUPPORT: 7,990 - 7,895 RESISTANCE: 8,095 - 8,150.
Money Market:
The Lira was negative yesterday, weakening 0.03% compared to the USD to close to 30.1087. In addition, the currency appreciated by 0.28% against the basket composed of $0.50 and €0.50. Meanwhile, the local fixed income markets were negative. The ten-year benchmark bond was traded within a range of 27.05%-27.22%, ending at the 27.14%, 7 bps above its previous closing.
Company News:
Yapi Kredi Bank (YKBNK.TI; OP) redeemed its AT1 bonds issued abroad for USD650mn on January 15, 2019, and the payment transactions regarding the redemption have been completed. As you may recall, on January 10, the bank had issued a Tier 2 bond worth USD650mn with a coupon rate of 9.25%, interest payments every six months, and a repurchase option at the end of the fifth year. The final maturity date is expected to be January 17, 2034.



Şeker Yatırım Menkul Değerler A.Ş.
www.sekeryatirim.com
 

                                  ***
                               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.