Daily Bulletin

Good morning. Following the Ankara 42nd Civil Court of First Instance’s decision to postpone the case publicly known as the “CHP Congress Case” to October 24, without announcing an additional injunction, the “political risk” pricing has been temporarily suspended, and the BIST 100 Index rebounded to 11,000 with a 6% increase. We also observe that trading volume ranks among the highest in Borsa Istanbul’s history and that short-term averages have been rapidly surpassed. Supported by capital inflows and foreign purchases, this move may continue in the short term, although we expect its momentum to ease compared to yesterday. The five companies contributing the most positively to the index yesterday were BIMAS, ASELS, THYAO, TUPRS, and AKBNK, while the negative contributors were PASEU, FENER, BTCIM, REEDR, and ALFAS. In the short term, the BIST 100 Index could target the 11,500 / 11,700 range, followed by the 12,000 / 12,300 range. Support levels can be monitored at 10,700 and 10,400. Global risk appetite continues to remain positive due to ongoing expectations of interest rate cuts from the Fed. This morning, U.S. and European futures, as well as Asian markets, are generally trading in positive territory. Today’s agenda is busy: domestically, housing sales, housing price increases, and Treasury auctions will be followed; in Europe, industrial production; and in the U.S., industrial production, retail sales, and capacity utilization will be monitored. Turkey’s 5-year CDS premiums start the day at 250 basis points. Below this level, positive pricing is expected to continue across BIST, particularly for the XBANK Banking Index.