Daily Bulletin

Good morning. As tensions between the U.S. and Iran continue, oil prices are maintaining their elevated levels. Global risk appetite remains weak, while downward revisions in global growth expectations continue within the macro framework. Unfortunately, this environment remains far from supportive for equity markets, and Borsa Istanbul is also undergoing a pricing period shaped by these pressures. On the domestic front, debt restructuring news regarding certain companies, the difficulty in identifying stock-specific catalysts following the recently concluded 1Q26 earnings season, and the breach of technically critical support levels are also contributing to the selling pressure. The BIST 100 Index declined by 2.4% on Monday, closing at the day’s low of 14,029 points amid foreign outflows and selling activity. The persistent decline in trading volumes throughout the past week’s sell-off period may be considered somewhat reassuring. However, from a technical perspective, support levels at 13,700, 13,500, and the 13,200 / 13,300 range have now come into focus. Resistance levels to monitor stand at 14,200 and 14,400. We expect a limited rebound attempt today, although the strength of the recovery may remain constrained. The five companies contributing most positively to the index on Monday were IZENR, FENER, EUPWR, QUAGR, and TABGD, while ASELS, BIMAS, TUPRS, ASTOR, and THYAO exerted the strongest negative impact. Companies that have continued to attract steady fund inflows over the past week include ASTOR, EREGL, SAHOL, and OBAMS. On today’s agenda, investors will monitor the House Price Index in Türkiye, CPI data in Europe, and the Fed minutes in the U.S. Türkiye’s 5-year CDS premiums begin the day at 249 basis points. Finally, tonight at 22:00 local time, Freiburg and Aston Villa will face off in the UEFA Final to be held in Beşiktaş, Istanbul. It is reported that nearly 30,000 German and British fans are expected to be in Istanbul to watch the match.