Morning Note /
Turkey

Turkey: We expect a negative opening

  • The volatility in Turkish equities continues due to the sharp sell of in banking sector shares

  • Technically we continue to recommend TOASO, TAVHL, PGSUS

  • Borsa Istanbul announced uptick rule again in BIST 50 sales today

ATA Invest
16 September 2022
Published byATA Invest

The volatility in Turkish equities continues due to the sharp sell of in banking sector shares. The most important support to follow is 3.250 level. We expect a a negative opening towards 3.350-3.330 levels. A reaction buying can occur afterwards. Earnings season will start soon and aviation, energy, food retail sectors are likely to post strong results so selective buying in these sectors are recommended. 3.250. Technically we continue to recommend TOASO, TAVHL, PGSUS.

Company news:

Borsa Istanbul announced uptick rule again in BIST 50 sales today

MPARK TI> bought back 21K shares at an average price of TL46.57 on 15 September 2022. Since 25 May 2022, the total number of shares bought back reached 3.6mn at an average price of TL38.35.

 Weekly Agenda:

Sep, 16: Sep CBRT Survey of participants