Dangerous behavior of banks for the stock market / 4 new signals of the central bank for the stock market

According to Tejarat News, last week the stock market was accompanied by a negative trend of the overall index and only two trading days the movements of the overall stock index were positive. In this situation, what important and related news related to the banking system has been published for the stock market?

Although the central bank governor speaks of government support and positive economic growth, rising interbank interest rates and the possibility of a falling dollar are not news that will help reverse the trend.

“We have no plans to increase interest rates on government bonds,” the central bank governor said in a recent statement. “A total of 43,000 billion tomans of government bonds have been sold in the interbank market, and the rate increase in the past has been two tenths of a percent.”

But these are not the only statements of Salehabadi in support of the stock exchange. He said that the interaction between the central bank and the capital market will continue to maintain the balance of the capital market and the payment of loans to brokerages will continue, provided that it does not harm production.

Salehabadi mentioned another program to support the stock market and said that another policy to support the stock market is to provide capital to banks and banks can help the capital market in this way.

In addition, Ali Salehabadi, the governor of the Central Bank, said in a recent meeting with the director of the International Monetary Fund: “Iran, like many other countries, has suffered severely from the coronavirus epidemic, but is now on a solid path to economic recovery.” . The latest published statistics show a 6.2% growth in Iran’s GDP in the second quarter of 2021, which is a significant achievement despite Iran’s severe restrictions on access to its foreign resources and the impossibility of purchasing vaccines from abroad due to US sanctions.

Despite these two important signals for the stock market, on the other hand, the recent behavior of banks for the stock market seems dangerous.

The table of changes in interbank interest rates shows that interest rates in this market have risen from 19.1 percent in early September to 19.86 percent at the end of this month.

According to some experts, the increase in interbank interest rates during the fall of the index during the last year has played an important role, and this time, with the increase of the stock market, it has felt this risk.

In addition, the possibility of a weaker dollar probably means maintaining the current trend in the stock market and possibly worsening the situation.

The governor of the Central Bank said in a recent televised interview: the government’s foreign exchange receipts have tripled in the first seven months of this year compared to the same period last year. In the Nima system, the main currency used to import raw materials was intermediaries and capital, which shows that we have been in a good situation in the last seven months. My prediction for the coming months is the calm of the foreign exchange market.

Could this news from the central bank worsen the situation on the stock exchange, or is it possible that the banking system will actually take new measures to support the stock exchange?

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