MARKET WATCH (SEKER YATIRIM) MARKET WATCH - THURSDAY, JANUARY 23, 2025 OUTLOOK: THE BIST100 INDEX STARTED WEDNESDAY ON A POSITIVE TREND, REMAINED WEAK BEFORE NOON, BUT STRENGTHENED WITH PURCHASES IN THE AFTERNOON TO CLOSE AT 10,105.37, UP 1.06%. THE INDUSTRIAL INDEX ROSE SLIGHTLY BY 0.17%, WHILE THE BANKING INDEX CONTINUED ITS POSITIVE DIVERGENCE, UP 1.78%. WHILE EXPECTATIONS OF A CBRT INTEREST RATE CUT TODAY, AND A RATING INCREASE FROM MOODY`S TOMORROW EVENING SUPPORTED THE BIST, THE POSITIVE OUTLOOK IN GLOBAL MARKETS ALSO CAUSED INCREASED PURCHASES TOWARDS THE CLOSE. BOTH THE MARKET AND OUR EXPECTATION FOR TODAY`S CENTRAL BANK INTEREST RATE DECISION IS FOR A POLICY RATE REDUCTION TO 45% WITH A 250 BPS CUT. WE EXPECT THE DISCOURSE REGARDING INFLATION DEVELOPMENTS, THE INTEREST RATE REDUCTION PATH AND MONETARY POLICY STANCE, LIKELY TO BE INCLUDED IN THE DECISION TEXT, TO BE CLOSELY FOLLOWED, SETTING EXPECTATIONS AND PRICING FOR THE COMING PERIOD. IN GLOBAL MARKETS, EXPECTATIONS THAT TRUMP WILL BE MORE SUPPORTIVE OF THE MARKETS WERE STRENGTHENED BY THE FRESH INVESTMENT ANNOUNCED IN ARTIFICIAL INTELLIGENCE. THE U.S. STOCK MARKETS ROSE BY UP TO 1.3% YESTERDAY, LED BY TECHNOLOGY STOCKS. EUROPEAN BOURSES ALSO CLOSED POSITIVELY, EXCEPT FOR THE UK. THIS MORNING, THE U.S. FUTURES ARE SLIGHTLY NEGATIVE, WHILE GERMAN DAX FUTURES ARE POSITIVE. WHILE THE CHINESE STOCK MARKET IS RISING ON THE GOVERNMENT DECISION TO DIRECT INVESTMENT FUNDS AND INSURANCE COMPANIES TO BUY MORE SHARES, ASIAN STOCK MARKETS ARE MIXED. WE EXPECT MARKETS TO REMAIN GUIDED BY DATA AND ANNOUNCEMENTS. THE VIOP30 INDEX COMPLETED THE EVENING SESSION UP 0.15%. LOCALLY, WE EXPECT THE BENCHMARK INDEX TO START THURSDAY POSITIVELY, AND SEEK TO RISE THEREAFTER. SUPPORT: 10,000 - 9,900 RESISTANCE: 10,250 - 10,350. MONEY MARKET: THE LIRA WAS NEGATIVE YESTERDAY, WEAKENING 0.08% AGAINST THE USD TO CLOSE AT 35.6524. THE CURRENCY ALSO DEPRECIATED BY 0.18% AGAINST A BASKET OF $0.50 AND €0.50. MEANWHILE, THE LOCAL FIXED INCOME MARKETS WERE NEGATIVE. THE TEN-YEAR BENCHMARK BOND WAS TRADED WITHIN A RANGE OF 27.24%-27.45%, ENDING THE DAY AT A HIGH OF 27.45%, 14 BPS ABOVE ITS PREVIOUS CLOSING. HEADLINES: ON THE MACROECONOMIC DATA AGENDA, THE CENTRAL BANK INTEREST RATE DECISION WILL BE ANNOUNCED TODAY. BOTH THE MARKET AND OUR EXPECTATION IS THAT THE POLICY RATE WILL BE CUT BY 250 BASIS POINTS TO 45%. INFLATION DEVELOPMENTS, THE PATH OF INTEREST RATE CUTS AND THE MONETARY POLICY STANCE WILL BE CLOSELY MONITORED IN THE TEXT OF THE DECISION. WE WILL PUBLISH OUR DETAILED ANALYSIS DURING THE DAY. SECTOR NEWS: COMPANY NEWS: VAKIFBANK (VAKBN.TI MP) HAS BOUGHT 56,479.50 SHARES OF ITS SUBSIDIARY TAKSIM OTELCILIK WITH A NOMINAL VALUE OF 1,000 TL BELONGING TO THE GENERAL DIRECTORATE OF FOUNDATIONS OF THE MINISTRY OF CULTURE AND TOURISM FOR TRY493,5MN AND RAISED ITS SHARE FROM 52.43% TO 68.57% WITHIN THE SCOPE OF THE SHARE TRANSFER AGREEMENT SIGNED ON 22.01.2025. SEKER YATIRIM MENKUL DEGERLER A.S. WWW.SEKERYATIRIM.COM.TR *** YASAL UYARI BURADA YER ALAN YATIRIM BILGI, YORUM VE TAVSIYELER YATIRIM DANISMANLIGI KAPSAMINDA DEGILDIR.YATIRIM DANISMANLIGI HIZMETI ARACI KURUMLAR, PORTFOY YONETIM SIRKETLERI, MEVDUAT KABUL ETMEYEN BANKALAR ILE MUSTERI ARASINDA IMZALANACAK YATIRIM DANISMANLIGI SOZLESMESI CERCEVESINDE SUNULMAKTADIR.BURADA YER ALAN YORUM VE TAVSIYELER, YORUM VE TAVSIYEDE BULUNANLARIN KISISEL GORUSLERINE DAYANMAKTADIR.BU GORUSLER MALI DURUMUNUZ ILE RISK VE GETIRI TERCIHLERINIZE UYGUN OLMAYABILIR.BU NEDENLE, SADECE BURADA YER ALAN BILGILERE DAYANILARAK YATIRIM KARARI VERILMESI BEKLENTILERINIZE UYGUN SONUCLAR DOGURMAYABILIR. 23.01.2025 09:35:56