TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

• The BIST is expected to resume trading tomorrow, as previously announced last week, however, there are market talks that the opening may be postponed until Monday, Feb 20th.
• The minimum share of equities in the state contributed pension funds will be increased to 30% from the current 10% level, with the BES portfolio companies given 10 days to make the relevant increases. State contributed pension funds currently have 14% of their TRY50bn total portfolio in equities corresponding to TRY7bn. Accordingly, they need to make at-least TRY8bn net buying in the next 10 days. We know from past experiences that the market can go limit up or down with TRY2bn net directional flows on a day. So yes it will make a difference. Also, it is worth to highlight that at least 30% of flows to those state contributed funds will be directed to equities every month going forward as well.
• According to Bloomberg, Turkey’s Treasury and Finance Minister Nureddin Nebati has disclosed to offer listed companies tax incentives to boost share buybacks after the nation’s main stock exchange resumes trading following a halt over last week’s massive earthquakes.
• Please recall that the BIST will open from the 4505 level, after closing Tuesday’s session on a loss of 8.62%.
• The TRY is trading flat against the USD at 18.84 and against the Euro at 20.23 whereas the DXY is at 103.13. The 2yr and 10yr rates closed at 11% and 11.36%, respectively.
• On the commodity front, Brent is trading flat at USD 85.75, and both ounce and gram GOLD prices are higher at USD 1859 and TRY 1126, respectively.
• As heart-breaking as it is to make trade calls on the aftermath of such a disaster, we would be recommending flat-steel producer KRDMD, EKGYO, as the building built under their supervision were the least damaged, and the CEMENT stocks, to outperform their peers.
NEWS FLOW:
• AKGRT: POSITIVE - Aksigorta posted net profit of TRY274mn for 4Q22 exceeding expectation by 155% however the company posted net loss of TRY127mn for FY22 vs net profit of TRY189mn of a year earlier.
AGENDA:
• Please note that the BIST will be closed for trading today, whereas the most important news flow from abroad will be the U.S. Inflation figures.
Please note you can visit us at https://www.tfgistanbul.com/sizi-arayalim, and our sales representative will get in touch with you for account opening procedures.

 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.