Forecast of the stock market on Sunday, November 7, 1402 / 2 million total index barrier in the fire of the fuel war – Tejaratnews

According to Tejarat News, shareholders were watching the fall of the total index after a few minutes from the start of the market. The residents of the Glass Hall decided to leave the market in response to the start of Israel’s ground attacks on Gaza and the fear of Iran’s indirect involvement in the war.

At the same time, the trading of American bills in Ferdowsi square opened with a positive chat and recorded levels higher than 52 thousand tomans. Although part of the supply was caused by the emotional decisions of traders, it cannot be hidden that systematic risks are always a part of the market and the market cannot be defined apart from the emotions of its people.

Will the passive approach of the stock exchange organization change?

The total index of the stock market has experienced a drop of more than 118,000 units since October 15, at the same time as the Gaza war began. The passive approach of the stock exchange organization towards the current state of the stock market has raised the voice of complaints from shareholders and experts. Experts believe that some industries and especially some individual stocks have reached very valuable points and the duty of the regulator is to control the market in critical conditions.

For example, on the 3rd of November, after the Istanbul Stock Exchange dropped by five percent, all its transactions were stopped. But such decisions are not seen in the Iranian stock market. On the other hand, the divergence between the currency market and the stock market has caused the dollar value of the stock market to be at its lowest level since the beginning of this year.

Majid Eshghi, the head of the stock exchange organization, reacted to the complaints of the people of the capital market on the sidelines of the passive defense conference on Saturday. He stated: Several reasons have caused fluctuations in the capital market, one of these factors being political risk and systematic risk conditions, which the market has shown a negative reaction to, and the issues have been repeated many times before, which will definitely be controlled.

Eshghi also stated: Following the payment of 1,000 billion tomans through the National Development Fund to the stock exchange organization, the fund will inject another 6,000 billion tomans into the capital market by the end of this year, based on its legal commitment. Eshghi also pointed to the closure of the Istanbul Stock Exchange and said: “The closure of the Iran Stock Exchange should be decided in the Supreme Council of the Stock Exchange in this situation.”

The performance of the glass hall displays

At the end of trading on the first day of the week, the main thermometer of the glass hall dropped 50,856 units, equivalent to 2.54% of the height of this index, and reached 1,951,000 units. Now, with the loss of the support of two million units of the total index, this range will become a strong resistance if the index returns.

The decrease in the height of the main indicator of the glass hall happened while the equal weight index, as an indicator of the general price trend of small and medium-sized companies, recorded a parallel performance but with a much greater intensity, and with a decrease of 3.48%, equivalent to 23,548 units, at a height of 653,000. A unit was placed.

The total OTC index, which reflects the general level of stock prices of the companies present in the OTC, lost its support barrier of 24 thousand units with a drop of 2.74%, equivalent to 672 points from the height of this index.

Tehran Stock Exchange in the mirror of statistics

The board of the Tehran Stock Exchange showed the value of small transactions (stocks, preemptive rights and mutual funds) on Saturday, 4,709 billion tomans. The board of Tehran Stock Exchange also shows the trading volume of 9.2 billion shares on Saturday. The increase in the volume and value of transactions happened because of the sentiment of fear ruling the market, and this increase cannot necessarily be interpreted as a positive sign.

The buying power in the market during the first day of the week indicated the clear superiority of the sellers. This index was a view of the red market map on Saturday. Also, checking the ownership statistics of real people on Saturday indicates the withdrawal of real capital from the stock market. The index of capital inflows and outflows at the end of the stock market on Saturday reports the outflow of 1,215 billion tomans from shares, preemptive rights and mutual funds.

Sunday stock forecast

Among the Red Fam map on Saturday, the positivity of the Siman Group attracted attention. The key to the capital increase plan of some symbols of the Cement Group, which will take place from the place of revaluation, was their positive factor.

Regarding the overall market, as mentioned in the previous report, any increase in geopolitical risks can cause the market to fall. In the last hour of Friday, news about the start of the Israeli army’s ground attacks on Gaza was published, which fueled the sentiment of fear and flight ruling the market on Saturday.

Therefore, it is expected that the market will determine its own path according to the regional developments in the West of the Middle East. Until this moment, it seems that the heavy shadow of fear that prevails on Saturday’s transactions, with less intensity, will spread to the flow of Sunday’s transactions as well.

Read more reports on the capital market page.