Market Watch (Şeker Yatırım)

Outlook:
The BIST100 Index started Thursday on a positive trend, maintaining a buying trend till noon. The CBRT surprisingly raised the policy rate by 750 bps, above the market expectation of 150 bps, from 17.5% to 25%. While the Dollar fell sharply after the CBRT's decision, BIST100 tested the level of 7,831 and then regressed, led by companies with high sensitivity to foreign currency. The Benchmark Index closed the day at 7,491.84, down 1.45%. While the Industrial Index fell by 3.27%, the Banking Index diverged positively, up 8.46%. Despite the emphasis on "gradual tightening" in the CBRT's resolution, we think that the rise in deposit rates after the strong interest rate hike will provide an important alternative to the BIST. On the other hand, the negative real interest rate environment persists and we expect steps taken towards normalization to support the foreign capital inflow and maintain interest in the BIST. For this reason, we think that yesterday's correction in the BIST100, which recorded a rise of nearly 70% without any significant correction in the post-election period, may continue. Sharp pullbacks will be considered as a medium-term buying opportunity. Elsewhere Fed Chairman Powell is expected to deliver a speech at 17:05 CEST+1 today in Jackson Hole. Expectations that Powell will make hawkish statements suppress risk appetite. Yesterday, the U.S. and European Stock Markets ended the day with decreases, while U.S. futures, German DAX futures and Asian Stock Markets, excluding the Dow Jones, are generally in a selling trend this morning. The VIX volatility index is trading at 17. If the VIX heads above 20, we expect increased selling pressure in the U.S. Stock Markets. The VIOP30 index closed the evening session up 0.14%. Locally, we expect the Benchmark Index to start Friday with a positive trend. Yet profit-taking pressure will continue despite any reactionary intraday purchases. SUPPORT: 7,373 - 7,290 RESISTANCE: 7,590 - 7,650.

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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.