Morning Note /
Turkey

Turkish equities stage bounce-back

  • CBRT left its policy rate at 14% as expected and did not give any clear guidance

  • Lira remains weak this morning

  • Equities staged a good bounce back in the past 3 days and looks ready to test its previous ATH at 2500

Batuhan Ozsahin
ATA Invest
27 May 2022
Published by

CBRT left its policy rate at 14% as expected and did not give any clear guidance on how it will combat inflation that is about to climb to 75% in May. Lira remains weak this morning and if we do not get an inflation hedged Lira product this weekend, we are not sure how it will stop further depreciation. Equities staged a good bounce back in the past 3 days and looks ready to test its previous ATH at 2500 but investors might not want to increase their exposure before the weekend in expectation of the inflation-hedged product

Company news:

*SAHOL TI> bought back 100K shares at an average price of TL20.19 on 26 May 2022. Since 09 Nov 2021, the total number of shares bought back reached 46.3mn at an average price of TL16.13.