Market Watch(Şeker Yatırım)

Market Watch - Tuesday, February 21, 2023
Outlook:
The BIST100 Index started Monday on a positive trend, continuing a fluctuating intraday rise to close at 5,148.932, up 2.43%. The Industrial Index diverged positively, up 4.05%, while the Banking Index diverged negatively, up 0.24%. We expect the money inflow to the BIST to continue until purchases within the scope of increasing the share of PPS funds in the state contribution from 10% to 30% are completed. However, the volatile course will likely continue for some time following the strong reactionary purchases. In major global stock markets, Asian Stock Markets ended Monday with gains, while the U.S. and European Stock Markets were generally selling on the back of the stronger Dollar and messages from central banks on tight monetary policy. We think that future macro data and the statements of central bank members will remain important in the course of global markets. The VIX rose above 21, indicating increased volatility and selling pressure in the U.S. Stock Markets. The U.S. and German DAX futures were trading with a negative trend this morning, while Asian Stock Markets were mixed. The VIOP-30 Index closed the evening session up 0.13%. Locally, we expect the Benchmark Index to start Tuesday positively, and despite any intraday pullbacks reactionary purchases should continue amid low momentum. SUPPORT: 5,080 - 4,970 RESISTANCE: 5,208 - 5,320.
Money Market:
The Lira was positive yesterday, gaining 0.01% compared to the USD to close to 18.8643. In addition, the currency depreciated by 0.11% 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 10.49%-10.67%, ending the day at a low of 10.49%, 18 bps below its previous closing.
Sector News:
The Credit Guarantee Fund package has been raised to TRY350bn (USD18.6bn) from TRY250bn (USD13.3bn) to prevent the negative impact of the earthquake on economic activities throughout the country. Additionally, a TRY20bn (USD1.1bn) earthquake zone operation and investment support package has been announced.
HalkBank (HALKB.TI; MP) is to postpone the treasury-backed loan payments of 150K shopkeepers, whose workplaces and businesses were damaged, for six months. Also, state banks will erase the loan debts of citizens who died in the earthquake. The debts of those living in heavily damaged provinces and districts will be postponed for six months, and for one month in other regions. Farmers who were damaged by the earthquake were given the opportunity to postpone their Treasury-supported loans from Ziraat Bank and Tarım Kredi for one year.
Company News:
HalkBank (HALKB.TI; MP) has bought back 270.6K of its own shares (0.01% of its paid-in capital) within a TRY11.18-11.36 share price range as part of its share buyback program of up to TRY250mn nominal shares and TRY2.25bn value. (Total amount bought: 104.8mn shares, which is 2.1% of its paid-in capital (Neutral).
VakifBank (VAKBN.TI; MP) has bought back 3.28mn of its own shares (0.05% of its paid-in capital) within a TRY9.84-9.87 share price range as part of its share buyback program of up to TRY150mn nominal shares and TRY1bn value. (Total amount bought: 53.2mn shares, which is 0.75% of its paid-in capital (Neutral).



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  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.