Daily Bulletin

Good morning. The decline in oil prices has lost some momentum, while the risk of a new armed conflict between the US and Iran is gradually diminishing. On the other hand, following the failure of the latest negotiations regarding the Russia-Ukraine war, concerns remain that the conflict could intensify. Wall Street closed on a weak note yesterday following the US data releases. However, Nvidia’s earnings and positive forward-looking expectations are supporting global risk appetite this morning. US and European equity futures, as well as Asian markets, are generally trading higher. In Borsa Istanbul, the BIST 100 tested 14,730 yesterday, reaching its highest level in the past two months, although the rally has not been broad-based across the index. During this period, approximately 30% of BIST 100 companies posted positive performances, while 70% remained weak. That said, we should note that the number of companies attracting net capital inflows has increased recently. Looking at yesterday’s session, the BIST 100 Index rose 0.95% to 14,611 points. The top five companies contributing positively to the index were DSTKF, TUPRS, THYAO, KTLEV, and ISCTR, while ASELS, ODINE, KCHOL, BSOKE, and EFOR were the biggest negative contributors. The companies that have stood out with consistent capital inflows over the past week are TUPRS, SELEC, SISE, YKBNK, ENKAI, RYGYO, TTRAK, ALBRK, KCAER, AKSGY, TRENJ, and KRPLS. From a technical perspective, 14,730 and 14,880 can be monitored as resistance levels, while 14,500 and 14,270 stand out as support levels during the day. On today’s agenda, domestic reserve data and weekly foreign investor transactions will be monitored, while in the US, wholesale inventories and weekly initial jobless claims will be released. The Jackson Hole Symposium also begins today, although Fed Chair Warsh is scheduled to speak tomorrow at 17:00 Istanbul time. Finally, Türkiye’s 5-year CDS premium starts the day at 219 basis points.