TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

EID HOLIDAY GOERS CASH-IN THEIR POSITIONS
" The BIST closed the first day of the week on a sour note, falling by 0.66% to 5059, with a low turnover of TRY 45.7bn, despite a green opening, attributable to some local investors who may want to close and cash-in their positions ahead of the Eid Break. The European markets closed mixed yesterday.
" The Banks managed to close slightly higher by 0.11%, whereas the Mining stocks closed limit-up, and the Conglomerates and the REITs found themselves dragging down the benchmark.
" Thus, taking a look at the BIST30 Winners and Losers table, KOZAL and KOZAA were accompanies by AKSEN, at the top 3 winners, whereas ENKAI, KRDMD and TUPRS were the most sold.
" Today, we expect a flat opening.
" As of yesterday's close, the TRY is trading a tad weaker against the USD at 19.40, and against the Euro the as well at 21.21. On the Bonds' side, the 2yr and 10yr rate fell sharply by 82bps and 15bps to 14.73% and 12.17%, respectively.
" On the commodity front, Brent is up a tad at USD 84.8, and ounce and gram GOLD have risen slightly to USD 2000 and TRY 1247, respectively.
" Turkey March Homes Sales fell by 21.4% to 105,476, and fell by 11.5% y/y to 283,215. Home sales to foreigners declined by 38.7% y/y to 3,415. Most homes sold to foreigners in March were in Antalya, Istanbul and Mersin. Limitations on rent increases are prompting real estate investors to reduce their positions for alternative investments. The number of houses put on sale in Istanbul surged by 41% in March. We expect the rate hikes expected after the elections to further limit the increase in real estate prices, which could be deemed downbeat for REITs.
" Turkey March Central Budget Deficit came in at TRY 47.2bn, vs TRY 69bn surplus y/y.
" According to Bloomberg, the CBRT has asked local lenders to limit the amount of dollar purchases they make in the interbank market to ease pressure on the lira.
" The Chinese economy grew by 4.5% in 1Q23, its fastest pace in a year.
NEWS FLOW:
" According to media reports, the US is set to move ahead with the sale of a modernization package for Turkey's existing F-16 aircraft, after leaders of U.S. congressional committees gave informal approval, sources familiar with the matter said.
" The Competition Board has initiated a preliminary investigation against speculative and/or supply restrictions against red meat producers.
" AGESA: Disclosed that its Jan-Mar Risk Premiums rose by 126% to TRY 1.5bn.
" ANSGR: Disclosed that its Jan-Mar Risk Premiums rose by 121% to TRY 9.1bn
" BOBET: Disclosed that it will open its second facility in Ist/Tema World.
" EKGYO: Disclosed signing a TRY 4.3bn and TRY 4.8bn agreement with the Ministry of Urbanization and Planning for Adiyaman.
" GLYHO: Disclosed that it has applied for the IPO of its subsidiary GFS Holding.
" SASA: Disclosed that the maintenance on its DMT production line that started on February 22nd has been completed.
" IMASM: Disclosed that it will increase its paid-in capital by 525% today, and that the adjusted price will be TRY 63.44.
" KLRHO: Has raised its paid-in capital by 150% to TRY 975mn.

AGENDA:
" The Housing Price Index will be released on the local front, whereas on the international front, the US March Housing Starts and Building Permits, the German April ZEW Index.



 TFG Istanbul Menkul Değerler A.Ş.
  www.tfgistanbul.com/arastirma-raporlar
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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.