TFG Istanbul Morning Report (TFG Istanbul Menkul Değerler )

" The BIST100 observed its new historic peak at 8008.78, before closing the day 2.92% higher at 7942, and with a buoyant turnover of TRY 174.2bn. Whereas the gains were fairly uniform across the sectors, the Transportations stocks made-up for last week's lag by rising nearly 7%, followed by the 3% gains in the Energy stocks. Speculations that the US central bank may halt rate hikes, coupled with China's stimulus packages, and the fact that local investors are still realizing negative interest rates due high inflation and expectations of either an outlook or rate hike due to the return of orthodox and determination of the Team to curtail inflation, all contributed to the surge, and will most probably continue to do so. Quick little fact-the foreign participation rate at the BIST has risen to 31.92% from 27.62% post elections.
" Today, we expect the positive momentum to continue, parallel to the gains in the Asian markets and positive US Futures.
" TUPRS, ISCTR and THYAO were yesterday's most bought blue chips, whereas EKGYO, due to the new second-home loan slash, was the most sold, followed by HEKTS and GARAN. We are continuing to see the interest especially in the renewable energy stocks, and thanks to the new economy team's efforts to reduce the CAD and redirect Banks' loans to export companies rather than consumer loans, we would also encourage our investors to take a closer look at companies with an FX inflow, such as Whitegoods and Automotive, and shy away from REITs and everything related to construction such as Cements, and Iron and Steel companies, as well as discretionary consumer spending sectors such as technology and furniture.
" As of yesterday's close, the TRY is trading flat against the USD against the greenback at 26.53, but stronger against the Euro at 28.70, whereas the DXY has dropped to 103.96.
" On the commodity front, Brent is trading lower at USD 83.78, due to fears of a fall in demand in China, coupled with a lower economic growth forecast in a Bloomberg survey, and ounce and gram GOLD have both edged higher to USD 1925 and 1643, respectively.
AGENDA:
" On the local front, the Trade Balance, Economic Confidence Level, and BRSA July Banking Results will be released, and the Economic Coordination Committee will meet under Vice-President Cevdet Yilmaz.
" Whereas the US Case-Shiller Home Price Index, and August Conference Board Consumer Confidence figures will be released.
CORPORATE NEWS:
" The BIST has brought new regulations to Price Tick and Quote Range Regulations in Equities and Exchange Traded Funds and Opening Auction in Exchange Traded Funds. As such, Opening Auction Order Collection will be held from 9:40 and uncrossing at 9:56.
" Yesterday, the CBRT sent the Banks a new regulation regarding FX-Protected deposit accounts. Accordingly, the conversion target from the FX-Protected Accounts was increased by 5% to 10%, thus facilitating Banks in reaching the target set forth previously by the CBRT, setting the minimum maturity for the conversion to ordinary savings accounts at 32 days.
" ALMAD: According to media reports, due to the ongoing drought, price hikes in sunflower oil may be in the near future. We may see this reflect positively onto share prices. The company also announced the sale of its 6,666sqm land in Tekirdag for nearly TRY 1.8mn.
" ASELS: Disclosed it has signed a USD 35.6mn export agreement.
" Kuzugroup REIT shares will be open for trading today at the BIST.
" TUPRS: Med diesel crack margins surged to US$41 from June closing of US$21, potentially paving the way for solid 3Q23 results for TUPRS. Despite its recent strong performance, TUPRS trades at only 4.4x trailing EV/EBITDA, which is appealing in our view.


 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.