Daily Bulletin

Good morning. Following US President Trump’s statement that he “does not expect the renewed attacks on Iran to last long,” oil prices and US Treasury yields edged lower, while Wall Street saw some buying interest. Although US and European futures and Asian equities were trading positively in early morning hours, we are seeing them lose momentum afterward, while the decline in oil prices continues. In Borsa Istanbul, despite the relatively long adjustment period granted following the new regulations introduced for funds, particularly hedge funds, we are seeing investor outflows accompanied by position-reduction activity and selling pressure. Meanwhile, after declining to 13,876 around midday yesterday, the BIST 100 Index rebounded above 14,000 in the second half of the session and managed to hold above this level. Nevertheless, the BIST 100 Index closed the day down 1.3% at 14,050 points. The top five contributors to the index were HALKB, DSTKF, CCOLA, VAKBN and TRALT, while the stocks that had the most negative impact were TUPRS, KTLEV, ODINE, THYAO and PASEU. The companies that have stood out with consistent fund inflows over the past week are SELEC, ANELE, DAPGM, MANAS, GLCVY, RALYH, RYGYO, KCAER and ENERY. Some of these stocks have shown weak price performance, which may indicate position accumulation through passive but block-sized purchases. From a technical perspective, the 13,800–14,000 area can be monitored as a critical support zone for the BIST 100 Index, while 14,140 and 14,230 stand out as resistance levels. On today’s agenda, August inflation data will be the key focus domestically. In Europe, PPI data will be released. In the US, weekly jobless claims and the ISM Services Index will be closely followed. Turkey’s 5-year CDS premiums are starting the day at 220 basis points.