Daily Bulletin

Good morning. Ongoing diplomatic developments between the U.S. and Iran, along with the continued — albeit limited — flow of vessels through the Strait of Hormuz, are weighing on oil prices while supporting equity markets. We should also note that Nvidia’s financial results continue to provide additional support to sentiment. U.S. and European futures are slightly positive this morning, while Asian markets present a mixed outlook. Despite the decline to 13,850 yesterday, Borsa Istanbul closed the session at 14,012 points. The top five contributors to the index were ASTOR, PASEU, SASA, MGROS, and TCELL, while the largest negative impact came from ASELS, DSTKF, TUPRS, RALYH, and KTLEV. Over the past week, ASTOR and SAHOL have stood out with consistent fund inflows. While we expect a limited rebound today, we believe cash-generating sales ahead of the extended holiday period may continue to weigh on the market, particularly considering settlement periods. From tomorrow onward, however, settlement dates will shift to the post-holiday period, which should help ease this pressure, although geopolitical uncertainties are likely to remain in focus. From a technical perspective, support levels at 13,700, 13,500, and 13,200 / 13,300 remain valid, while 14,200 and 14,400 continue to stand out as key resistance levels. On today’s agenda, PMI data releases from Europe and the U.S. will be closely monitored. Türkiye’s 5-year CDS premiums start the day at 241 basis points.