Outlook:
The BIST-100 Index started Wednesday on a positive trend, continued its rise and tested its new historical peak of 4,784 during the day. After encountering profit sales at these levels, the Index, following a fluctuating course, closed the day at 4,668.52, up 0.25%. The Banking Index continued to diverge positively, up 2.94%. Major stock markets, which saw a strong short-term rise as the U.S. inflation data printed below expectations, closed with profit sales. After the short-term strong reactionary rise, profit sales may be experienced in global stock markets, albeit limited. The recovery trend in global risk appetite can be expected to continue until the next Fed meeting. While the VIX Index remains above 24, profit-taking is foreseen in the U.S. Stock Markets, unless the Index falls below 21. The BIST continues its uptrend by testing new historical peaks after strong quarterly results, and its current status as an alternative investment tool among TRY-based assets in an environment of high inflation. After the strong intraday rise, the Index faced profit sales. Although the Index is expected to continue its uptrend until the next results season amid further strong expectations, the risk of strong short-term profit sales has increased. The volatility experienced over the past two days indicates this. Regardless, we expect the declines to present buying opportunities, and the Index to continue its uptrend, again testing new peaks, in the medium term. The VIOP-30 Index closed the evening session down 0.23%. Relative to the BIST close, the U.S. and German DAX futures have followed a mixed course, close to flat. Asian Stock Markets are in a selling trend led by technology stocks. Locally, we expect the Benchmark Index to start Thursday with a positive trend, although despite the continued uptrend, profit-taking may result from the rises. SUPPORT: 4,632 - 4,565 RESISTANCE: 4,742 - 4,860.
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Yasal Uyarı
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