MARKET WATCH (SEKER YATIRIM)

MARKET WATCH (SEKER YATIRIM)

MARKET WATCH - MONDAY, FEBRUARY 23, 2026
OUTLOOK:
THE BIST-100 INDEX STARTED FRIDAY ON A LIMITED POSITIVE TREND, FOLLOWING A VOLATILE COURSE THEREAFTER. AMID STRENGTHENING PURCHASES TOWARDS THE CLOSE, THE INDEX ROSE BY 0.94%, ENDING THE DAY AT 13,934.06. AMONG SECTORAL INDICES, THE INDUSTRIAL INDEX ROSE BY 0.77%, WHILE THE BANKING INDEX SHOWED A POSITIVE DIVERGENCE, UP 1.85%. FINANCIAL LEASING AND FACTORING WAS THE MOST POSITIVELY DIVERGING INDEX WITH AN 8.04% GAIN, WHILE THE HOLDING AND INVESTMENT INDEX WAS THE MOST NEGATIVELY DIVERGING, WITH A 0.39% LOSS. ON A WEEKLY BASIS, THE BIST 100 INDEX FELL BY 1.74%, WHILE THE BANKING INDEX LOST 1.64% AND THE INDUSTRIAL INDEX LOST 2.60%. THE VIOP FEBRUARY FUTURES CONTRACT CLOSED FRIDAY EVENING UP 0.31%. ON THE GLOBAL FRONT, THE U.S. SUPREME COURT RULED ON FRIDAY THAT THE IEEPA, ON WHICH PRESIDENT TRUMP`S TARIFFS WERE BASED, DOES NOT GRANT THE PRESIDENT THE AUTHORITY TO IMPOSE TARIFFS, EMPHASIZING THAT THE POWER TO DO SO RESTS WITH CONGRESS. STOCK MARKETS SAW A POSITIVE TREND ON FRIDAY FOLLOWING THE U.S. SUPREME COURT`S TARIFF DECISION. IN THE U.S., THE DOW JONES INDEX ROSE 0.47%, THE S&P 500 INDEX INCREASED BY 0.69%, AND THE NASDAQ INDEX BY 0.90%. IN EUROPE, THE GERMAN DAX INDEX GAINED 0.87%, WHILE THE EURO STOXX 50 INDEX ROSE 1.18%. TRUMP, WHO CALLED THE COURT`S DECISION `SHAMEFUL,` ANNOUNCED A 10% GLOBAL TARIFF ON FRIDAY, INCREASING IT TO 15% THE FOLLOWING DAY. MEANWHILE, OMANI FOREIGN MINISTER BADR AL-BUSAIDI ANNOUNCED THAT NEGOTIATIONS BETWEEN THE U.S. AND IRAN WOULD RESUME IN GENEVA ON THURSDAY, FEBRUARY 26TH. AS THE NEW DAY BEGINS, ASIAN STOCK MARKETS ARE GENERALLY SHOWING POSITIVE TRENDS. MARKETS IN JAPAN AND CHINA ARE CLOSED FOR PUBLIC HOLIDAYS. IN FUTURES MARKETS, THE U.S. AND EUROPEAN FUTURES ARE TRADING NEGATIVELY. THERE ARE NO MAJOR DOMESTIC MACROECONOMIC DATA RELEASES TODAY TO SIGNIFICANTLY IMPACT MARKET PERFORMANCE. ON THE JUDICIAL FRONT, THE TRIAL REGARDING THE CRIMINAL CASE RELATED TO THE CHP`S 38TH ORDINARY CONGRESS WILL BE FOLLOWED. GLOBALLY, THE U.S. FACTORY ORDERS DATA AND ECB PRESIDENT LAGARDE`S SPEECH ARE NOTEWORTHY. FED PRESIDENT WALLER WILL ALSO BE SPEAKING. LOCALLY, WE EXPECT THE BENCHMARK INDEX TO START THE WEEK WITH LIMITED POSITIVE GAINS, FOLLOWED BY A VOLATILE DAY OF TRADING. SUPPORT: 13,800 - 13,700 RESISTANCE: 14,000 - 14,100.
MONEY MARKET:
THE LIRA WAS NEGATIVE ON FRIDAY, WEAKENING 0.18% AGAINST THE USD TO CLOSE AT 43.8442. THE CURRENCY ALSO DEPRECIATED BY 0.23% AGAINST A BASKET OF $0.50 AND €0.50. MEANWHILE, THE LOCAL FIXED INCOME MARKETS WERE POSITIVE. THE TEN-YEAR BENCHMARK BOND WAS TRADED WITHIN A RANGE OF 30.11%-30.34%, ENDING THE DAY AT A LOW OF 30.11%, 15 BPS BELOW ITS PREVIOUS CLOSING.
COMPANY NEWS:
BIM (BIMAS.TI OP) HAS ANNOUNCED TO INCREASE THE COMPANY`S PAID-IN CAPITAL, WHICH CURRENTLY AMOUNTS TO TRY 600,000,000, BY TRY 600,000,000 TO TRY 1,200,000,000, ENTIRELY FROM INTERNAL RESOURCES, AND TO DISTRIBUTE BONUS SHARES.
EMLAK KONUT REIT (EKGYO.TI N/C) HAS ANNOUNCED THAT THE SECOND SESSION OF THE TENDER FOR THE ISTANBUL EYUPSULTAN KEMERBURGAZ 1ST STAGE REVENUE SHARING MODEL IN RETURN FOR LAND SALE PROJECT, A COMPANY PROJECT, WAS HELD ON 19.02.2026 AT 14:30. THE HIGHEST BID RECEIVED AT THE TENDER IS AS FOLLOWS: TOTAL REVENUE FROM LAND SALE: TRY 31,250,000,000, COMPANY`S SHARE REVENUE RATIO: 40%, COMPANY`S SHARE IN TOTAL REVENUE FROM LAND SALE: TRY 12,500,000,000. THE EVALUATION PROCESS OF THE OFFERS IS ONGOING.
HALKBANK (HALKB.TI MP) HAS REPORTED A NET PROFIT OF TRY 6.9BN IN 4Q25, DOWN 15.2% QOQ, BUT 11% ABOVE EXPECTATIONS. FY25 NET PROFIT ROSE 79.6% YOY TO TRY 27.1BN. THE QOQ DECLINE IN NET PROFIT WAS MAINLY DRIVEN BY A SHARP INCREASE IN TAX EXPENSES FOLLOWING REGULATORY CHANGES. ON THE OPERATING SIDE, NET INTEREST INCOME AND SWAP-ADJUSTED NII POSTED STRONG QOQ GROWTH, WITH NIM IMPROVING TO 3.6% IN 4Q25 (FY25: 2.6%). ASSET QUALITY SAW LIMITED DETERIORATION, WITH THE NPL RATIO RISING TO 4.0% AND THE NPL COVERAGE RATIO IMPROVING TO 82%. NET COST OF RISK STOOD AT 199 BPS IN 4Q25 (FY25: 132 BPS). WE EVALUATE THE RESULTS AS `SLIGHTLY POSITIVE` ON THE BACK OF THE EARNINGS BEAT. WE REVISE OUR 12-MONTH TARGET PRICE TO TRY 53.9 (FROM TRY 46.3) AND MAINTAIN OUR `MARKET PERFORM` RECOMMENDATION, IMPLYING AROUND 10% UPSIDE POTENTIAL FROM CURRENT LEVELS.
SISECAM (SISE.TI OP) HAS ANNOUNCED THAT, AS PREVIOUSLY DISCLOSED IN ITS PUBLIC DISCLOSURE PLATFORM (KAP) STATEMENT DATED MAY 17, 2022 TITLED `NEW BIOTECHNOLOGY-FOCUSED INVENTION INVESTMENT AND PARTNERSHIP,` THE INCORPORATION PROCESS OF 7CBASALIA GLOBAL AG (`7C BASALIA GLOBAL`), ESTABLISHED IN SWITZERLAND WITH A SHARE CAPITAL OF CHF 1,050,000, HAD BEEN COMPLETED. THE COMPANY HAD ACQUIRED A 10% STAKE IN 7C BASALIA GLOBAL. YET, AT ITS RECENT BOARD OF DIRECTORS MEETING, THE COMPANY RESOLVED TO INITIATE THE NECESSARY PROCEDURES TO TERMINATE THE PARTNERSHIP ESTABLISHED WITH 7C BASALIA GLOBAL, AS IT WAS DETERMINED THAT THE EXPECTED TECHNICAL AND OPERATIONAL PROGRESS FROM THE INVESTMENT HAD NOT BEEN ACHIEVED AND THAT MAINTAINING THE PARTNERSHIP WOULD NOT BE IN THE COMPANY`S BEST INTERESTS.



SEKER YATIRIM MENKUL DEGERLER A.S
WWW.SEKERYATIRIM.COM.TR

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