Daily Bulletin

Good morning. Rising oil prices, negative comments on artificial intelligence companies and reports of security vulnerabilities in the PHP infrastructure, which is widely used particularly in e-commerce, are bringing selling to global equity markets. U.S. and European futures and Asian markets are starting the day in negative territory by notable percentages. This weakness in global risk appetite may also have an impact on Borsa Istanbul, which gained momentum the day before but could not maintain it yesterday. While the BIST 100 Index fell 1.9% to 11,577 points yesterday, the companies contributing to the index were ASELS, TAVHL, AKSA, BIMAS, BIMAS, while those with a negative impact on the index were THYAO, ASTOR, AKBNK, KCHOL, TUPRS. Companies standing out with steady fund inflows over the past week were TAVHL, ALARK, AKFYE, ENTRA, PGSUS, LIDFA. From a technical perspective, the 11,350 / 11,400 support can be monitored as the nearest level for the XU100 index, but as long as the index remains below 11,900, the risk of a pullback to the 10,500 / 11,000 area persists. 11,800 can be monitored as the first resistance. We think that 12,300 needs to be exceeded for a lasting relief in the index. On today's agenda, the CBT Monetary Policy Committee meeting and interest rate decision stand out domestically. We expect a 100 basis point cut in the policy rate, which currently stands at 37%. The general market consensus is also in line with our expectation, but let us also note that there are views that there should be no rate cut at all, or that there could be a cut of 150 or 200 basis points. Turkey's 5-year CDS premium starts the day at 251 basis points.