Today is Fed day and eyes will be on rate decision in the afternoon. We are also starting the day with partial mobilisation decision from Russia which may lower the risk appetite in the markets. Global markets were already in red prior this announcement and we expect a negative opening in BIST as well.
Isbank staff fund bought 5 mn shares of Isbank and Halkbank bought back 8.9 mn shares yesterday. The news may ease the selling spree in the banking sector shares going forward. 3.290 3.300 3.330 are the daily resistance levels for today. We remain positive for PGSUS TOASO and recommend buying for SAHOL which looks strong technically.
Borsa Istanbul announced uptick rule again in BIST 50 short sales today,
*MPARK TI> bought back 25K shares at an average price of TL46.65 on 20 August 2022. Since 25 May 2022, the total number of shares bought back reached 3.7mn at an average price of TL38.53.
*ISCTR TI> Isbank staff fund bought 5 mn shares within TRY 8- 8,19 band yesterday
*HALKB TI> bought back 8.9mn shares at an average price of TL8.19 on 20 September 2022. Since 29 Aug 2018, the total number of shares bought back reached 75.2mn at an average price of TL5.75.
*ASELS TI> acquired TL1,050mn (US$57mn) project from Presidency of Defence Industries regarding the Artificial Intelligence Assisted Gendarmerie KGYS (J/KGYS) Project (slightly positive). The project is scheduled to be delivered during 2023-24. The acquired project accounts for 0.7% of US$7.9bn backlog (as of 2Q22-end). We consider that the contribution of the project will be slightly positive.
Sep, 22: Sep Consumer confidence index
Sep, 22: CBT rate decision
Sep, 22: BRSA Weekly banking sector data