Morning Note /
Turkey

Turkey: Risk appetite declined significantly

  • Global markets seems resilient after yesterday’s sharp weaknesses

  • BIST-100 broke down 2,500 support level yesterday but closed above critical support of 2,468 level

  • Aviation companies are the driver for the market

Batuhan Ozsahin
ATA Invest
17 June 2022
Published by

Global markets seems resilient after yesterday’s sharp weaknesses. The risk appetite declined significantly. BIST-100 broke down 2,500 support level yesterday but closed above critical support of 2,468 level. Today reaction buying is likely towards 2,500 resistance. 2,500 should be broken up with strong volume for further strength in the market. Aviation companies are the driver for the market. We remain positive mostly for TAVHL which is also an ATA TOP Pick. Technically BIMAS KCHOL are also likely to outperform

Company news:

* SISE TI> bought back 1,415k shares at an average price of TL21.12 on 16 June 2022. Since February, 26 2021, the total number of shares bought back reached 84.5mn at an average price of TL13.75

*SAHOL TI> bought back 500K shares at an average price of TL19.57 on 17 June 2022. Since 09 Nov 2021, the total number of shares bought back reached 49.5mn at an average price of TL16.37.

*MPARK TI> bought back 20K shares at an average price of TL34.44 on 16 June 2022. Since 25 May 2022, the total number of shares bought back reached 703K at an average price of TL35.27.

Weekly Agenda:

June 17: CBRT Expectations Survey