BIST100 INDEX REFRESHES RECORD HIGH IN NEW YEAR

The consumer prices index in Turkey increased to 14.6 percent in December compared to the same period of the previous year. This data was well above the CBRT's year-end inflation expectation of 12.1 percent. On the other hand, the manufacturing sector PMI showed a mild increase with 50.8 in December, showing the epidemic-induced weakening in activities. Following these data, while the general increase scenario in the BIST100 index did not change, the tension on TL assets was very short-lived. Although the indexes started the new week with a high-risk appetite, the increase in the number of Covid-19 cases and the uncertainty created by the critical Georgia elections, which will determine the majority in the US Senate, spoiled the risk appetite in the markets. Thus, while the direction in the indices turned slightly downward, the BIST100 index completed the day at 1489 with a 0.39 percent decrease, although its attacks on the 1500 level became more frequent.

Regarding the worldwide Covid-19 case toll, while national quarantine has been declared in the UK as part of the fight against the Covid-19 outbreak, it is seen that regional measures are tightened in the USA, Japan and the Euro Zone. On the other hand, the lack of results from the European Medicines Agency's meeting held by Moderna to discuss the Kovid-19 vaccine was another factor that weakened the risk appetite in the markets.

BIST100 index, which started the new week with record rises, continues attacks towards the 1500 level. Especially with the passing of the 1500 level, an upward movement of up to 1525 and 1550 resistance levels can be triggered in the index. In a short-term realization that may occur in the index, we monitor the pullbacks primarily within the framework of the 1475 and 1450 support levels.