The Black Sea grain deal has been extended for another 120 days, according to President Recep Tayyip Erdogan. “As a result of four-way talks hosted by Turkey, the Black Sea Grain Corridor Agreement was extended for 120 days as of November 19, 2022, in line with the decision taken between Turkey, the United Nations, the Russian Federation, and Ukraine,” President Erdogan said on Twitter.
Turkey has also spoken with Russia about sending grain to several African countries free of charge. “The most important topic President Vladimir Putin brought up was sending this grain to African countries free of charge, to countries such as Mali, Djibouti, Sudan, and Somalia,” President Erdogan noted. “We will also contribute to its free delivery,” Erdogan said he told Putin.
Turkey’s benchmark stock index closed at 4,507.24 points yesterday, ending its four-session winning streak. After starting the day at 4,686.54 points, Borsa Istanbul’s BIST 100 index lost 161.28 points, or 3.45%, from Wednesday’s all-time high daily close of 4,668.52 points. The total market value of the BIST 100 was around TRY 3.7tr by close, with a daily trading volume of TRY 111bn. The global markets, including Borsa Istanbul, had a negative course with increasing concerns over a recession, according to analysts. They said 4,500 points will be the support level and 4,700 points will be the resistance level for the BIST 100 index, in technical terms.
DAILY AGENDA
The net international investment position posted a USD 224.9bn deficit in September, according to the Central Bank.
Meanwhile…
>> The Central Bank’s international net reserves rose by USD 3.69bn to USD 18.23bn in the week ending on November 11, compared to the previous week. The bank’s total reserves increased by USD 3.84bn to USD 117.5bn in the same period, the highest level of the year.
>> Residents’ FX deposit accounts dropped by USD 3.7bn in the week ending on November 11, compared to the previous week, according to parity-adjusted data from the Central Bank
>> Residents’ FX deposit accounts increased from USD 212.79bn to USD 212.91bn in the week ending on November 11, compared to the previous week, according to the Central Bank.
>> Foreigners’ net equity acquisitions totaled USD 116m in the week ending on November 11, according to the Central Bank. Their equity acquisitions amounted to USD 38m in the week ending on November 4. Despite the buying for two consecutive weeks, their share in Borsa Istanbul continued to remain at a historic low of 29.34%.
>> The total amount in FX-protected TRY deposit accounts (KKM) rose by TRY 981m to TRY 1.47tr in the week ending on November 11, compared to the previous week, according to the Banking Regulation and Supervision Agency (BDDK).
>> The banking sector’s total loan volume increased by TRY 78.12bn from TRY 7.03tr to TRY 7.11tr and its total deposits surged by TRY 155.03bn, or 1.8%, to TRY 8.57tr in the week ending on November 11, compared to the previous week, according to BDDK.
>> The composite construction materials index dropped by 0.64 points to 69.78 points in October compared to the previous month, according to the Construction Materials Producers’ Association (IMSAD). The decrease stemmed from the sharp decline in export orders.
