Daily Bulletin

Good morning. Following Friday's sell-off, U.S. and European markets are starting the new week on a positive note, while Asia presents a more mixed outlook. On Friday, Borsa Istanbul experienced a pullback exceeding 2%, retreating to the 200-day exponential moving average around the 9,600 level. However, we expect the new week to begin with a rebound. Following the sharp decline in Borsa Istanbul on Friday, reports indicate that the Capital Markets Board (SPK) and the Istanbul Chief Public Prosecutor's Office have launched an investigation, making developments in this area worth watching. The 12-month average target for the BIST 100 index remains around 14,200, implying a potential return of approximately 48% at the index level. Given this high potential and the limited economic reasons that could justify sharp declines, we believe downside risks in Borsa Istanbul are limited, and accumulation-based transactions will continue. On today’s agenda, domestic data includes real sector confidence and capacity utilization, while inflation data in Europe and growth-related figures in the U.S. will be in focus. Meanwhile, Turkey's 5-year credit default swaps (CDS) start the day at 255 basis points.