TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST100 closed yesterday on a hungry appetite, ending the day 3.20% higher at 5561, with a very high turnover of TRY 116.7bn, led by the gains in the Conglomerates and the Transportation stocks, whereas the REITs and the Energy stocks were little less enthusiastic, thus underperforming the benchmark.
• The sharp depreciation of the TRY against both the USD and the TRY, spurred a buying appetite at the BIST especially among the export stocks, as the weaker TRY cheapens domestic goods for sale abroad, thus increasing the revenues of the exporting companies, and reflecting positively onto the market.
• Thus, yesterday’s highest gainers among the blue-chip stocks were KRDMD, ARCLK and EKGYO, followed by SISE and KCHOL, whereas GUBRF, SASA and ODAS found themselves at the bottom of the listings.
• Today, we expect a flat/positive opening due to the risk-off mood in the global markets.
• FROTO, SASA and KOZAL were yesterday’s most bought BIST30 stocks, as opposed to ODAS, EKGYO and SAHOL.
• As of yesterday’s close, the TRY is trading weaker against the USD at 23.32 and is just shy of the 25 ticker against the Euro.
• On the Bonds’ side, both the 2yr and 10yr rates rose by 45bps and 47bps to 15.73% and 14.85%, respectively.
• Brent is trading slightly lower as of yesterday’s session close at USD 76.83, and whereas ounce GOLD is stable at USD 1947, gram GOLD is slightly higher at TRY 1460.
• Yesterday, the new Finance and Treasury, Mr. Mehmet Simsek tweeted, “…we affirm our commitment to rules based policy making to enhance predictability. While there are no short cuts or quick fixes, rest assured that our experience, knowledge & dedication will help us overcome potential impediments ahead. Our immediate priority is to strengthen our team and design a credible program.”
• On the heels of the World Bank, the OECD also increased its growth rate for Turkey to 3.6% from 2.8% for 2023, and revised it slightly lower for 2024 to 3.7% from 3.8%. It expects CPI to be 44.8% from 44.6% but lowered its estimate for 2024 to 40.8% from 41.4%.
• MAVI is expected to release its 1Q23 results as today.
NEWS FLOW:
• KATMR: Disclosed during the session yesterday, that it obtained a USD 2.7mn order from abroad.
• PENTA: Disclosed that shareholder Istanbul Portfoy has made 20.44% of its capital sellable at the wholesale market.
AGENDA:
• On the local front, the Weekly Foreign STOCK/BOND holdings will be released, whereas the US will be disclosing its weekly Jobless Claims numbers and the Eurozone will disclose its 1Q23 GDP figures.
 
 TFG Istanbul Menkul Değerler A.Ş.
  www.tfgistanbul.com/arastirma-raporlar
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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.