Morning Note /
Global

Turkey: BIST 100 is likely to open flat

  • 5.500 support level was broken down yesterday

  • We remain positive for TOASO technically.

  • According to Hurriyet newspaper the government will announce an new housing project for middle-upper income group.

ATA Invest
28 December 2022
Published byATA Invest

5.500 support level was broken down yesterday due to the sales in the afternoon session. Today BIST 100 is likely to open flat but can test 5,360 support level which is an important support in the short term. In case 5,360 will be broken down 5,180 support can be tested. We remain positive for TOASO technically. ATA top pick TCELL was also very strong and further outperformance should be expected. According to Hurriyet newspaper the government will announce an new housing project for middle-upper income group.

Company news:

ARCLK TI> According to TURKBESD, domestic white goods sales increased by 19% y/y in Nov 2022 whereas production declined by 3% y/y during the same period. SAHOL TI> bought back 500K shares at an average price of TL43.91 on 27 December 2022. Since 09 Nov 2021, the total number of shares bought back reached 36.1mn at an average price of TL25.00.

*MPARK TI> bought back 75K shares at an average price of TL85.90 on 27 December 2022. Since 25 May 2022, the total number of shares bought back reached 7.1mn at an average price of TL50.60.

*BIOEN TI> Hedef Portfoy share in the company increased above 5%

*BIZIM TI> Merrill Lynch International's share increased from 5% to 5.13%

Weekly Agenda:

Dec, 29: Dec Ecoomic confidence index

Dec, 29: BRSA Weekly and Monthly banking sector data

Dec, 30: Nov foreign trade statistics