Daily Bulletin

Good morning. The perception that Middle East-focused tensions may be approaching an end is supporting global markets. Yesterday, remarks from U.S. President Trump drew attention, suggesting that the war could come to an end within 2–3 weeks even in the absence of any ceasefire or peace agreement. At the same time, we continue to follow reports that troop deployments are ongoing and that a third U.S. aircraft carrier has been dispatched to the region. Trump’s comments led to a decline in oil prices, although they continue to remain above the USD 100 level. Following yesterday’s gains in U.S. and European equity markets, futures are also in positive territory this morning. Borsa Istanbul also posted a notable 1.3% rise yesterday. From a technical standpoint, we view the buying interest—supported by volume and fund inflows above the 100-day exponential moving average—as positive. Today, the upward trend may continue, potentially allowing the index to break above the descending channel resistance drawn from the all-time high of 14,532 recorded on February 18. It will be critical for the index to move above the 12,800 / 13,000 resistance band and hold at these levels. The five stocks that made the strongest positive contribution to the BIST 100 Index yesterday were TUPRS, KLRHO, THYAO, CCOLA and TAVHL, while the stocks that weighed most negatively on the index were RALYH, BTCIM, HALKB, AKSEN and ENJSA. Over the past week, the stocks that have stood out with consistent fund inflows were THYAO, KRDMD, TCELL, SASA, PETKM and OBAMS. On today’s agenda, PMI data from Turkey, Europe and the U.S. will be in focus. In addition, employment data in Europe, U.S. retail sales figures, and comments from Fed officials will be closely watched. Domestically, the judicial process regarding the CHP’s 38th Ordinary Congress will also be monitored. Türkiye 5-year CDS premiums start the day at 307 basis points.