Putin’s trip did not reach the stock market / Why did the market not show favor to the Russians?
According to Tejarat News, the Tehran Stock Exchange passed a dull day in a situation where Putin’s visit to Tehran could not create a positive shock in the capital market.
The index of Tehran Stock Exchange today, Tuesday, July 28, 1401, was accompanied by a slight drop. The decrease of 791 points in the total index made the number of 1 million and 469 thousand points appear on the stock market boards. The equal weight index did not lag behind the downward trend of the market and ended its work with a decrease of 750 units and stabilized in the range of 401 thousand units.
No one can afford the stock market
According to many experts, Tehran Stock Exchange is going through unfavorable conditions these days. In such a way that even Vladimir Putin’s arrival in Tehran could not stimulate any part of the market. This is while under normal conditions this news could have turned the tide in the stock market to the benefit of the shareholders. But the general atmosphere of the stock market is such that investors have no incentive to buy and sell stocks.
interest rate; Double pressure on the stock market
On the other hand, the record-breaking interbank interest rate became a double factor for intensifying the recessionary atmosphere in the stock market. In the past days, stock market users protested on social networks against the Central Bank’s decision to increase the interest rate unprecedentedly in 1401. Comparative graphs are also created by adjusting the fluctuation trend of the total index and the interbank interest rate in the virtual space. By referring the audience to this chart, the analysts emphasized the necessity of observing the interest rate ceiling in order to strengthen the capital market.
What will happen?
The view of the shareholders on Vladimir Putin’s visit to Tehran was also one of the things that have been discussed in the virtual space. Many believe that Putin has no desire to revive the JCPOA and therefore this trip cannot bring economic benefits to Iran. Many experts also believe that this analysis by the market activists made no one in the Tehran Stock Exchange to show favor to Putin.
Moscow, oil and steel
On the other hand, it should not be forgotten that Russia is currently one of the main competitors of Iran in the energy market. In other words, the sanctions caused by the Russian attack on Ukraine have made Moscow’s target market in the field of energy overlap a lot with Iran. The center of gravity of this overlap is the People’s Republic of China, which as the largest buyer of Iranian oil has always been very important for Tehran.
Now the shareholders believe that the Russians are grabbing Iran’s oil customers. This issue has also caused adverse effects in the steel market, which directly affects the status of steel products in the Tehran Stock Exchange. Having said that, it seems that the reaction of the people of the stock market to the visit of Putin and Erdogan to Tehran is not so strange. However, some analysts believed that this trip could create an emotional shock for the formation of buying queues in the stock market. But in the end, another result was obtained, which was witnessed by the shareholders in the market today.