Türkiye’s potential grey list removal boosts sectors

All eyes are on Türkiye’s possible removal from the Financial Action Task Force (FATF) grey list during the General Assembly in Singapore on June 28, which could lead to heightened foreign capital inflows, especially benefiting sectors like Banking and Energy.

Sector performance, top movers

The BIST100 index began the new week at 10,771 after closing last week with a 2.86% increase, despite only two days of trading because of the holiday.

During the shortened trading week, energy and technology stocks like Bioen, Cwene, Enery, Miatk and Astorled gains, while Cante, Ansgr, Alark, Sdttr and Agrot were among the top losers.

Economist’s outlook: Potential for further upside

Economist Tuncay Tursucu noted that sustained levels above 10,750 could propel the index toward the 12,000 mark. He highlighted positive market sentiment amid deferred transaction taxes and expectations of Türkiye exiting the grey list this week.

Market trends, opportunities

Tursucu pointed out that recent increases in bond yields were influenced by foreign institutions revising their forecasts, which could impact market dynamics.

Long-term perspective, investment strategy

While Tursucu acknowledged the possibility of corrections if the index fails to consolidate above 10,750, he remained optimistic about long-term prospects.

He projected the index could reach $400 by the end of 2024, emphasizing current opportunities for strategic investments during market dips.

Key expectation: Türkiye’s grey list status

This week’s pivotal expectation revolves around Türkiye’s potential removal from the grey list, anticipated during FATF’s General Assembly in Singapore on June 28.

Such a move could spur increased foreign capital inflows, particularly benefiting sectors such as Banking and Energy.