Market Watch (Şeker Yatırım)

Outlook:
The BIST 100 Index started Friday on a positive trend, yet closed the day at 7,513.29 on a sharp decline of 3.23%. The Banking Index fell 4.61% and the Industrial Index lost 1.78%. On a weekly basis the BIST100 lost 2.63%, while the Banking Index shed 3.98% and the Industrial Index diverged positively, up 1.05%. In the post-election period, the BIST has recorded a sharp rise without any significant correction, supported by factors such as gradual normalization, continuation of the negative real interest rate policy, and a sustained foreign inflow despite momentum loss. At the weekend, The CBRT took steps to encourage the transition from Currency Protected Deposits to TRY deposits as part of its simplification process. Accordingly, the implementation of the conversion target from FC deposits to Currency Protected Deposits, and the practice of security maintenance according to the share of TRY deposits were terminated. We view this development, which will cause a rise in deposit rates, negatively in terms of the BIST's lack of alternatives. We foresee a short-term correction with profit realization in the Benchmark Index, having now reached the end of the balance sheet period. For the medium term we expect the BIST100 to maintain its rising trend, with sharp pullbacks presenting buying opportunities. In major global stock markets, concerns over the Fed's rate hike and weak economic developments in China continue to suppress risk appetite. Last week, major stock markets ended the week with strong declines ranging from 2-3%. This morning, the U.S. futures, German DAX futures, and Asian Stock Markets are generally bearish. The VIX Index trading at 17 indicates that selling pressure and volatility in the U.S. Stock Markets have increased. If the VIX rises above 20 that pressure may deepen. The VIOP30 Index closed Friday's evening session up 0.20%. Locally, we expect the Benchmark Index to start Monday negatively. Selling pressure would likely lead any potential rises into profit-taking. SUPPORT: 7,398 - 7,250 RESISTANCE: 7,588 - 7,764.

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.