Global markets are again in red and signals a sluggish opening for Turkish equities as well. However, BIST 100 continue to decouple from the world and in a trial to stabilise around these levels. CBT cut rates by 100 bp yesterday which did not affect the markets much. Daily resistance levels are at 3,330 3,350. SAHOL, TOASO, VESTL and aviation companies are the stocks we like daily.
Consumer Confidence Index (CCI) increased by 0.3% m/m to 72.4 in Sep’22 (-9.2% y/y). Financial situation expectation of households declined by 1.1% m/m to 71.4 in Sep’22. General economic situation expectation increased by 1.6% m/m to 74.0. Number of people unemployed expectations increased by 0.7% m/m to 70.4 in Sep’22. Probability of savings* increased by 6.6% m/m to 29.6 in Sep’22.
*MPARK TI> bought back 23K shares at an average price of TL46.82 on 22 September 2022. Since 25 May 2022, the total number of shares bought back reached 3.8mn at an average price of TL38.64.
*ZOREN TI ROYAL TI> Borsa Istanbul suspends trading temporarily for Zorlu enerji and Royal Hali due to out of ordinary trading.
*ZOREN TI> announced that they are in talks with Kuwait Investment Authority to sell stakes
Sep, 22: Sep Consumer confidence index
Sep, 22: CBT rate decision
Sep, 22: BRSA Weekly banking sector data