Market Watch (Şeker Yatırım)

The BIST is back after Wednesday's national holiday. The BIST100 Index started Tuesday on a positive trend, testing a new peak of 8,013 only to face profit sales. The benchmark Index closed the day at 7,907.13, down 0.44%. The Banking Index diverged positively, up 1.77%. Profit-taking remains limited, while stock- and sector-based divergences continue. Despite the surprise CBRT interest rate hike, the high inflation and negative real interest rate environment is expected to continue, whereby the BIST continues to be seen as a worthy investment tool among TRY-based assets. Foreign interest is likely to continue in the medium term, as the economy team continues its gradual transition to rational policies. On the other hand, we think that a volatile course may be formed with short-term rises in the Index prompting profit-taking due to the recent loss of momentum in foreign purchases. However, unless there is a sharp rise in deposit rates after the CBRT interest rate decision and changes in currency protected deposits, possible profit sales may just present a buying opportunity sustaining the uptrend for the medium term. While the market expectation for 2nd quarter domestic growth data - to be announced today - is 3.4%, our expectation is for 3.5% growth. Global risk appetite has been weak for some time and major stock markets ended the day with a mixed outlook. Until the Fed's interest rate decision, risk appetite is expected to remain weak in those markets amid a fluctuating course. According to the BIST's Tuesday close, U.S. futures were up over 1%, while German Dax futures were flat. The VIOP-30 Index ended the Tuesday evening session up 0.24%. There is a negative weighted course in Asian stock markets due to the weak data effect. Locally, the Benchmark Index is foreseen starting Thursday on a positive trajectory with the uptrend maintained as any profit sales lead to fresh buying. SUPPORT: 7,865 - 7,800 RESISTANCE: 8,014 - 8,160.
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.