The total index of Tehran Stock Exchange reached 1,375,000 units yesterday, August 3, 2014, with a growth of 17,716 units. The growth, which was equivalent to 1.3 percent in yesterday’s transactions, coincided with the inauguration of the president. Mobility was evident in the whole market, so that the total weighted index became negative 230 units. This was the last attempt of the governments to leave the government at the last moment. The total value of transactions also shook and reached 4673 billion tomans. It seems that the overall stock market index has completed its downward trajectory. In the following, we will explain this issue. Please be with Artan Press.
*** One percent growth of the total index of Tehran Stock Exchange
On the day that the total index of Tehran Stock Exchange grew by 1.3%, out of 336 traded symbols, the closing price of 151 shares (45%) was positive and 174 shares (52%) were traded at negative levels. In this market, 32 symbols (9.5%) formed a purchase queue worth 466 billion tomans. On the other hand, we witnessed the formation of a sales queue in 30 stock exchange symbols (9%) worth 290 billion tomans. OTC also had a positive effect on the total index of Tehran Stock Exchange.
On the OTC market of Iran, however, on the day that Ifex recorded a growth of 0.2%, 137 symbols were traded, among which the closing price of 60 shares (44%) was positive and 76 shares (55.4%) were negative. In this market, 22 symbols (16%) formed a buying queue worth 129 billion Tomans, but 14 symbols (10%) also faced a selling queue worth 160 billion Tomans.
*** Impact of Tehran Stock Exchange on basic market transactions
The overall index of the Tehran Stock Exchange also overshadowed the basic market transactions. The base market also hosted 114 trades today. Among these, 45 shares (39.4%) remained positive and in contrast, we witnessed the trading of 63 shares (55%) in the negative range. In this market, 37 symbols (32.4%) formed a purchase queue worth 173 billion Tomans and the sales queue in this market was allocated to 48 symbols (42%) with a value of 514 billion Tomans.
*** Placement of the stock exchange on the ascent route
For a long time, the stock market has resisted successive declines and has been able to continue its growth path even for a very short time. Despite the fact that in recent weeks, the Tehran Stock Exchange has been the least profitable market among various assets, but its growing, slow and continuous trend has been promising for shareholders. It is enough to go back a little. The total index of Tehran Stock Exchange at the end of July compared to June of this year grew by 12.2 percent. About three-quarters of the index’s growth in July was due to petrochemical and oil companies, base metals and metallic minerals. Commodities have been able to create a growing and satisfactory trend for stock performance coefficients.
*** Evaluation of the most important reasons for the growth of the Tehran Stock Exchange index
But a fundamental question has arisen among stock market participants, and that is the reasons for the 12% growth of the capital market and the total stock market index in the past month, in a situation where commodity markets were not in a good position. To answer, it can be claimed that the unrealistic high price of the dollar and the global increase in the price of chemical and metallic raw materials and raw materials produced by industrial and mining companies that rent raw materials, energy, water and other very cheap inputs (cost in Rials And earn in dollars). It has increased the profitability of these firms.
This has led to this profitability being included in stock market reports, and we are witnessing the growth of total share as much as it is now in the market. Despite the strong criticism of the government in the field of stock exchange, it should be said that the performance of this government has been better than other governments in the growth of the total index of Tehran Stock Exchange. The twelfth government, both in terms of nominal and actual growth, holds the record for the highest returns of the total stock index among the last six governments.
*** Stock market mobility simultaneously with the implementation of the boss
Yesterday’s trading on the stock market ended with the greenery of the main indicators in the stock exchange and OTC markets, at the same time as the inauguration ceremony of the new president, with the growth of demand in larger stocks. This happened while the intensity of offers had pushed the indicators to the negative range yesterday, but the plans announced by the new head of the government during the elections, which included stability in the stock market, elimination of dictatorial policies and prevention of rent and corruption. It led to increased optimism about the future of the stock market with the new president taking office.
This was the main reason for the growth of the total stock index in the middle of the week. This has strengthened the demand side, especially in valuable symbols with a lower P / E ratio, which leads to less risk. For this reason, these days we are witnessing the growth of large and valuable symbols based on fundamental factors, and the market of smaller symbols with less support and higher risk, especially the basic market symbols, has declined.
*** Indicative symbols in Tuesday trading
In yesterday’s trading, the symbols “Fars”, “Midco” and “Shasta” with a positive impact of a total of about 8 thousand units, had the largest share in the jump of the overall index. In contrast, the offering in smaller stocks decreased the overall homogeneous index, which shows the same effect of the symbols, by 0.06%. We also saw a 0.2% increase in the total index in the OTC market of Iran. In this market, “Zob”, “OTC” and “Shgovia” had the most positive effect on the overall index.
It seems that the overall stock market index has reached the days when any decline is accompanied by heavy resistance from traders. The stock market is more empty of inexperienced activists these days than ever before, and market behavior is expected to be more rational. Following the increase of 200 Tomans in the price of the dollar, we witnessed a relative strengthening in the dollar-based symbols. However, the weight of this factor can not be seen in the growing trend of stocks today knew it was heavy, but it certainly was not ineffective.
*** Political risks in the growth of the total index of Tehran Stock Exchange
Political issues are likely to enter the stock market trading trend and changes in the overall stock index in the coming days. The symbols of the automobile group, which were at the forefront of small shareholders’ purchases yesterday following the news of the supply of cars in the commodity exchange, raised tensions over the problems created for the Israeli tanker and their claim that Iran interfered in the incident. It will probably cast a shadow over Barjami. The uncertainty of the new president’s definite policy on future issues has also obscured car and banking symbols. In general, it seems that brighter days are waiting for the Iranian stock market.
It remains to be seen how successful the new president, who has centered one of his main election slogans on the stock market, can be. It seems that with the removal of heavy liquidity from society, this market will no longer be very popular. The digital currency market, despite its high risk, has created more transparency for people.
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