Market Watch (Şeker Yatırım)

Market Watch - Monday, November 27, 2023
Outlook:
The BIST100 Index started Friday on a negative trend, but recovered after Mehmet Simsek announced that they would re-evaluate the Swap limit, among the biggest obstacles for foreign investors to turn to TRY-based assets. The Benchmark Index closed the day at 7,959.95, up 0.78%. The Banking Index and Industrial Index rose by 1.16%, & 0.72%, respectively. On a weekly basis, the BIST100 gained 1.36%, the Industrial Index increased by 1.14%, and the Banking Index diverged positively, up 4.63%. The steps taken within the framework of the CBRT's continued interest rate increases, the decrease in CDS and the return to rational policies support the BIST, with momentum led by the banks. We also think that foreign purchases in recent weeks, albeit limited, have at least eased pressure on the bourse. However, while rising interest rates increase the attractiveness of alternative income instruments, higher stock loan interest rates limit appetite for the BIST. Risk appetite continues in global markets with the perception that the Fed has come to the end of its interest rate hikes. Major stock markets closed last week with an average rise of 1%. This morning, the U.S. futures, German DAX futures and Asian Stock Markets are on a selling trend. For risk appetite to maintain its strength there is a need for continued data indicating that the Fed and other major central banks will discontinue interest rate increases. Additionally, statements from Fed members and geopolitical developments may continue to impact risk appetite. The VIOP-30 Index ended the Friday evening session up 0.17%. Locally, we expect the Benchmark Index to start Monday on a positive trend. Any intraday retreats will present buying opportunities. SUPPORT: 7,898 - 7,852 RESISTANCE: 8,015 - 8,085.
Money Market:
The Lira was negative on Friday, weakening 0.20% compared to the USD to close to 28.8731. In addition, the currency depreciated by 0.24% against the basket composed of $0.50 and €0.50. Meanwhile, the local fixed income markets were positive. The ten-year benchmark bond was traded within a range of 28.39%-28.75%, ending the day at a low of 28.39%, 32 bps below its previous closing.



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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.