Daily Bulletin

Good morning. Recent messages from the US suggesting that some issues with Iran may have been agreed upon, along with comments that the war could be brought to an end even if the Strait of Hormuz remains closed, are supporting US and European futures this morning. In line with these developments, oil prices are also down by around 1–2% compared to yesterday’s average levels, although they continue to hold above USD 100. Asian markets, however, remain in negative territory. For Borsa Istanbul, we may see a positive opening this morning, supported by the global backdrop and the pullback in oil prices. That said, pressure on the index is likely to persist due to today being the last trading day of March and ongoing unwinding in arbitrage positions. Looking back at yesterday, the BIST 100 Index declined by 0.6% to 12,626, with the top positive contributors being TUPRS, KLRHO, KTLEV, BIMAS, and AKSEN, while ASELS, ASTOR, THYAO, AKBNK, and SISE were the main negative contributors. Stocks that have stood out with consistent inflows over the past week include KCHOL, PETKM, THYAO, TCELL, AKSGY, ISFIN, TEZOL, BRSAN, and GOLTS. It is notable that some of these names have remained relatively resilient versus the index, while others appear to be trying to establish a base. From a technical perspective, the 12,400 / 12,500 band remains a critical support area for the BIST 100 Index. Resistance levels are seen at 12,800 and then 13,000 / 13,100. On today’s agenda, domestic data releases will include employment figures and the foreign trade balance. In Europe, CPI data will be in focus, while in the US, housing price and growth-related data, along with comments from Fed officials, will be closely monitored. 5-year CDS starts the day at 313 basis points.