Daily Bulletin
Tacirler Investment
Good morning. While the Nasdaq Composite index lost 5.5% yesterday with sharp selling in technology companies in the U.S., other industrial and services companies could not remain indifferent to this selling, and the Dow Jones Industrial index lost 3.4% and the S&P 500 index 4.4%. Let us note that, with these serious losses, there has been a serious deterioration in the technical outlook of U.S. markets, which have dipped below main supports and important averages, and that if the selling continues, this could affect all global equity markets. This morning, U.S. futures are showing a mixed picture, but point to high volatility possibly continuing. European futures and Asian markets are also generally in negative territory. The BIST 100 Index, which rose 4.1% the day before, fell 1.3% yesterday with a pullback in line with the sharp selling abroad but more limited, ending the day at 11,333 points. The companies contributing to the index were THYAO, AKBNK, GARAN, TAVHL, YKBNK, while those with a negative impact on the index were ASELS, TUPRS, ASTOR, EREGL, KRDMD. Companies standing out with steady fund inflows over the past week were THYAO, YKBNK, GARAN, TAVHL, ISCTR, AKBNK, TTKOM, AEFES, MPARK, TRALT, CIMSA. The XBANK Banking index, on the other hand, rose 1.8% yesterday, continuing its positive divergence. We think this divergence will continue in the coming period. For the BIST 100 index, from a technical perspective, 11,200 can be monitored as the first support and 11,600 as the first resistance. Below 11,200, the 10,500 / 11,000 area will come back onto the agenda. If the selling abroad continues, this area may be tested once again. Above 11,600, the 12,000 / 12,300 band will be targeted. On today's agenda, the cash budget balance domestically and employment data in the U.S. stand out. Turkey's 5-year CDS premium starts the day at 249 basis points.