Daily Bulletin

Good morning. Holiday effects continue to dominate global markets. U.S. equity markets were closed yesterday; today is a federal holiday, although stock exchanges will remain open. Futures are trading flat. In Europe, all major markets—including Germany, France, the UK, Italy, and Spain—will be closed today. In Asia, buying interest is notable in markets that remain open. In Borsa Istanbul, despite a full trading session yesterday, total trading volume failed to reach even half of the one-month average. The market closed flat despite a positive start to the day. The BIST 100 Index declined marginally by 0.03%. The top five positive contributors were RALYH, SISE, DSTKF, TRALT, and EFOR, while ASELS, BIMAS, MGROS, KCHOL, and YKBNK exerted the most negative impact. Over the past week, stocks standing out with consistent fund inflows were MAVI, GUBRF, and CCOLA. From a technical perspective, in the short term, the 11,400 / 11,470 range and the 11,605 level can be monitored as resistance zones, while 11,250 and the 11,070 / 11,150 band remain key support areas. From a long-term perspective, BIST 100 index targets above 15,000 can be calculated. Our “2026 Outlook” report, to be published today, will outline our global expectations, macroeconomic forecasts for Türkiye, revisions to our Model Portfolio, and sector and company outlooks. The daily agenda is quiet, with the CBRT Sectoral Expectations Survey to be monitored. Türkiye’s five-year CDS premiums remain flat at around 205 basis points, continuing to trade at the lowest levels of the past seven and a half years.