MARKET WATCH (SEKER YATIRIM) THE BIST-100 INDEX STARTED WEDNESDAY POSITIVELY BUT THEN EXPERIENCED VOLATILE TRADING, CLOSING THE DAY AT 11,193.88, DOWN 0.40%. AMONG SECTORAL INDICES, THE INDUSTRIAL INDEX FELL BY 0.26%, WHILE THE BANKING INDEX DIVERGED NEGATIVELY, DOWN 1.38%. ACCORDING TO YESTERDAY`S INDUSTRIAL PRODUCTION DATA, SEASONALLY AND CALENDAR-ADJUSTED PRODUCTION DECREASED BY 0.8% IN OCTOBER COMPARED TO THE PREVIOUS MONTH. THE SLOWDOWN IN MONTHLY PRODUCTION REDUCED ANNUAL PRODUCTION GROWTH TO 2.2% (FROM 3%). ON THE GLOBAL FRONT, THE FED, FOLLOWING ITS LAST FOMC MEETING OF THE YEAR, LOWERED ITS POLICY INTEREST RATE RANGE BY 25 BPS TO 3.50% - 3.75%, AS EXPECTED. THUS, WITH THE 25 BPS CUTS IT MADE IN EACH OF THE LAST THREE FOMC MEETINGS OF THE YEAR, THE FED HAS REDUCED THE POLICY RATE BY A TOTAL OF 75 BPS FOR 2025. THE DECISION WAS MADE WITH A 9-3 VOTE. OF THE THREE DISSENTING MEMBERS, STEPHEN I. MIRAN ARGUED FOR A 50 BPS REDUCTION IN THE INTEREST RATE RANGE, WHILE AUSTAN D. GOOLSBEE AND JEFFREY R. SCHMID ADVOCATED FOR NO CHANGE TO THE CURRENT RANGE. THE FED`S ECONOMIC FORECASTS INDICATED THAT ONLY ONE INTEREST RATE CUT IS PLANNED FOR NEXT YEAR. THE BANK`S INFLATION FORECASTS WERE LOWERED FROM 3% TO 2.9% FOR THIS YEAR AND FROM 2.6% TO 2.4% FOR 2026, WHILE REMAINING UNCHANGED AT 2.1% FOR 2027 AND 2% FOR 2028. THE U.S. STOCK MARKETS CLOSED HIGHER FOLLOWING THE FED`S INTEREST RATE CUT DECISION. THE DOW JONES INDEX ROSE 1.05%, THE S&P 500 INDEX INCREASED 0.67%, AND THE NASDAQ INDEX ROSE 0.33%. EUROPEAN STOCK MARKETS GAVE MIXED PERFORMANCES YESTERDAY. THE VIOP-30 DECEMBER FUTURES CONTRACT CLOSED THE EVENING SESSION UP 0.29%. NEGATIVE PRICING IS DOMINANT IN ASIAN STOCK MARKETS THIS MORNING. THE U.S. AND EUROPEAN FUTURES MARKETS ARE ALSO OBSERVING NEGATIVE PRICING. TODAY`S MACROECONOMIC DATA AGENDA INCLUDES DOMESTIC RETAIL SALES AND WEEKLY MONEY AND BANKING STATISTICS DATA, AS WELL AS THE CBRT INTEREST RATE DECISION FROM ITS LAST MPC MEETING OF THE YEAR. MARKET EXPECTATIONS ARE FOR A 150 BPS CUT IN THE POLICY RATE. WE EXPECT A CUT IN LINE WITH MARKET EXPECTATIONS. ON THE OTHER HAND, A CAUTIOUS 100 BPS CUT OR A HAWKISH 200 BPS CUT ARE ALSO AMONG THE POSSIBILITIES. THE DECISION TEXT WILL BE CLOSELY FOLLOWED FOR INFLATION DEVELOPMENTS, THE RATIONALE BEHIND THE INTEREST RATE DECISION, AND STATEMENTS REGARDING THE MONETARY POLICY STANCE. ON THE GLOBAL FRONT, THE WEEKLY JOBLESS CLAIMS, FOREIGN TRADE BALANCE, AND WHOLESALE INVENTORIES DATA TO BE RELEASED IN THE U.S. WILL BE FOLLOWED. LOCALLY, WE EXPECT THE BENCHMARK INDEX TO START THURSDAY POSITIVELY AND EXPERIENCE VOLATILE MOVEMENTS IN THE AFTERNOON AFTER THE CBRT`S INTEREST RATE DECISION. SUPPORT: 11,050 - 10,950 RESISTANCE: 11,250 - 11,350. 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. 11.12.2025 09:35:32