Will the money from KKM come to the stock market? Critical levels for the BIST 100 from an expert

TÜRKİYE GAZETESİ/ECONOMY SERVICE - The BIST 100 index on the Borsa Istanbul closed last week at 11,372.33 points, a 4.62% increase. This brought the BIST 100 to a record close. Meanwhile, the index tested its all-time high of 11,398.27 points last week, marking an all-time high for the stock market.

WHY IS THE STOCK MARKET RISING?

Interest rate cut expectations, better-than-expected balance sheets, decline in CDS risk premium, continued foreign interest, easing of geopolitical risks and optimism in global markets stood out as the main factors supporting the BIST 100 index.

TOP RISING AND FALLING STOCKS

During the stock market's record-breaking week, Çan2 Thermal Power Plant (23.90%), Şekerbank (22.68%) and SASA Polyester (22.56%) stood out as the highest-rising stocks within the BIST 100, while Turex Turizm (-14.06%), Efor Çay (-11.87%) and Hektaş (-5.84%) were among the stocks that fell the most.

Katılımevim Savings Finance, Emlak Konut GYO, and Turkish Airlines were the top three stocks with the highest inflows. Koç Holding, Turex Tourism, and BİM Birleşik Mağazacılık led the way in outflows.

EXPECTATIONS IN THE STOCK MARKET

Economist Tuncay Turşucu noted that the BIST 100 index closed above its previous peak of 11,252 last week, marking a technically significant signal. He stated, "If the index remains above 11,250, upward momentum will continue. In the bigger picture, 13,961 stands out as a symmetrical target. However, in the meantime, it's necessary to monitor resistance levels at $282 and $293. These levels correspond to 11,562 and 12,000."

WHERE DOES THE MONEY FROM KKM GO?

Meanwhile, another significant development last week was the termination of currency-protected deposit accounts. While attention is turning to the potential address of the $11 billion in the KKM (Credit and Security Deposit Accounts), ALB Investment Chief Economist Assoc. Prof. Dr. Filiz Eryılmaz commented on the matter, stating that the termination of KKM might have a "limited positive" impact on the stock market, but that she doesn't expect the money flowing from these accounts to flow back into the stock market in a significant way.