Market Watch(Şeker Yatırım)

The BIST-100 Index started Friday on a positive trend and tested a new historical peak of 4,552 with its continued rise. Yet the Index returned its gains amid rising profit sales led by the Banking Index to closed Friday at 4,410, down 0.26%. While the Banking Index diverged negatively, down 2.16%, the Industrial Index gained 0.46%. The BIST-100 closed the week up 5.66%, while the Banking Index rose 2.96%. The strengthening trend in global risk appetite, which started with the expectation that the Fed would slow down its rate hikes after the U.S. CPI data announced on Thursday printed below expectations, continued on Friday. Major stock markets, excluding the U.K., ended the week with strong gains ranging from 3-8%. The depreciation of the DXY Dollar Index continues to strengthen, and the decline in the DXY currently supports the strengthening of risk appetite for risky assets. The short-term uptrend among major global stock markets seems set to continue until the next Fed meeting. Although the BIST tested new historical peaks with the support of strong quarterly prints and the recovery in global stock markets, it faced profit-taking on Friday. The upward revision of share target prices after the strong balance sheet season supports the recent rise in the Index. Yet we foresee profit-taking, albeit limited, in the market as there is no significant short-term expectation now all 3Q results are out. Meanwhile, industrial production continues to print below expectations, which indicates a possible weakening in the profitability and margins of industrial stocks in the last quarter. For this reason, we consider some profit-taking normal after the strong short-term rise. Regardless, we expect the uptrend to continue in the medium term, given that the BIST is the sole alternative among TRY-based assets for now; that plus the strengthening of global risk appetite in a high inflation environment. The VIOP-30 Index closed the Friday evening session up 0.75%. Relative to the BIST close, the U.S. and German DAX futures were slightly positive. Asian Stocks have started the new week with a mixed outlook. Locally, the BIST-100 Index is expected to start Monday positively. If the uptrend continues throughout the day, rises can present a profit-taking opportunity, as was the case on Friday, albeit to a limited extent. SUPPORT: 4,425 - 4,364 RESISTANCE: 4,498 - 4,552.

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                               Yasal Uyarı
 
  Burada yer alan yatırım bilgi, yorum ve tavsiyeler yatırım danışmanlığı kapsamında değildir.Yatırım danışmanlığı hizmeti ; aracı kurumlar, portföy yönetim şirketleri, mevduat kabul etmeyen bankalar ile müşteri arasında imzalanacak yatırım danışmanlığı sözleşmesi çerçevesinde sunulmaktadır.Burada yer alan yorum ve tavsiyeler, yorum ve tavsiyede bulunanların kişisel görüşlerine dayanmaktadır.Bu görüşler mali durumunuz ile risk ve getiri tercihlerinize uygun olmayabılır.Bu nedenle, sadece burada yer alan bilgilere dayanılarak yatırım kararı verilmesi beklentilerinize uygun sonuçlar doğurmayabilir.