MARKET WATCH (SEKER YATIRIM)

MARKET WATCH (SEKER YATIRIM)

THE BIST-100 INDEX STARTED THURSDAY NEGATIVELY, CONTINUING ITS DOWNTREND THROUGHOUT THE DAY. WITH INCREASING SELLING PRESSURE TOWARDS THE CLOSE, THE INDEX CLOSED AT 12,727.06, DOWN 1.83%. ON A SECTORAL BASIS, THE INDUSTRIAL INDEX LOST 1.48% YESTERDAY. THE BANKING INDEX WAS THE WEAKEST PERFORMER OF THE DAY WITH A 3.34% LOSS. IN THE FUTURES MARKET, THE SELLING TREND CONTINUED IN THE EVENING SESSION FOR THE APRIL FUTURES CONTRACT, WITH A 0.59% LOSS. ACCORDING TO THE CBRT`S WEEKLY SECURITIES STATISTICS, IN THE WEEK ENDING MARCH 19, NON-RESIDENT INVESTORS (FOREIGNERS) MADE NET SALES OF USD137.6MN IN EQUITIES AND USD130.1MN IN GOVERNMENT BONDS, ADJUSTED FOR PRICE AND FX RATE EFFECTS. DURING THE SAME WEEK, THE CBRT’S NET INTERNATIONAL RESERVES DECREASED BY USD11.6BN TO USD57.4BN. NET RESERVES EXCLUDING SWAPS FELL BY USD11.3BN TO USD43BN. GOLD RESERVES, WHICH CONSTITUTE A SIGNIFICANT PORTION OF TOTAL RESERVES, DECREASED BY USD18BN TO USD116.2BN. SIMILAR TO THE DOMESTIC MARKET, GLOBAL MARKETS EXPERIENCED A DAY OF WEAK RISK APPETITE AND SELLING PRESSURE. IN THE U.S., THE DOW JONES INDEX FELL BY 1.01%, THE S&P 500 INDEX BY 1.74%, AND THE NASDAQ INDEX BY 2.38% IN EUROPE, THE GERMAN DAX INDEX DECLINED BY 1.50% AND THE EURO STOXX 50 INDEX BY 1.53%. AS THE WAR BETWEEN THE U.S., ISRAEL, AND IRAN ENTERS ITS 28TH DAY, DIPLOMATIC AND MILITARY TENSIONS CONTINUE. PRESIDENT TRUMP ANNOUNCED THAT ATTACKS ON ENERGY FACILITIES HAVE BEEN HALTED UNTIL APRIL 6TH AT IRAN`S REQUEST, AND THAT NEGOTIATIONS ARE PROGRESSING POSITIVELY. HOWEVER, THE IRANIAN SIDE IS APPROACHING THE U.S. PEACE PROPOSALS CAUTIOUSLY, AND NO CONCRETE PROGRESS HAS YET BEEN SEEN. WHILE MUTUAL ATTACKS CONTINUE ON THE GROUND, THE U.S. CONSIDERING DEPLOYING ADDITIONAL TROOPS TO THE REGION, AND ISRAEL CONTINUING ITS OPERATIONS INDICATE THAT TENSIONS REMAIN HIGH. IN THIS CONTEXT, ALTHOUGH DIPLOMATIC CHANNELS REMAIN OPEN, THE LIKELIHOOD OF GEOPOLITICAL RISKS COMPLETELY DISAPPEARING IN THE SHORT TERM IS CONSIDERED WEAK. THIS MORNING, OIL PRICES SAW A LIMITED PULLBACK, WHILE ASIAN STOCK MARKETS GAVE A MIXED PERFORMANCE. THE U.S. AND EUROPEAN FUTURES INDICES ARE CURRENTLY PRICED IN POSITIVELY. WHILE THERE ARE NO MAJOR DOMESTIC MACROECONOMIC DATA RELEASES TO SIGNIFICANTLY IMPACT MARKET PERFORMANCE, GLOBALLY, U.K. RETAIL SALES AND THE U.S. UNIVERSITY OF MICHIGAN CONSUMER CONFIDENCE INDEX WILL BE MONITORED. ON THE FED SIDE, SPEECHES BY FOMC MEMBERS BARKIN AND DALY ARE ALSO EXPECTED TO INFLUENCE MARKET DIRECTION. LOCALLY, WE EXPECT THE BENCHMARK INDEX TO START FRIDAY WITH LIMITED POSITIVE MOMENTUM, FOLLOWED BY VOLATILE TRADING THROUGHOUT THE DAY. SUPPORT: 12,600 - 12,500 RESISTANCE: 12,900 - 13,000.

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

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