Rising dollar price did not save the stock market / When will the index turn green?
According to Tejarat News, the total stock index fell by 18.5% in the first week of December. This was while the price of the dollar was growing well and reached more than 29,000 tomans by the end of the week.
Salman Nasirzadeh, a stock market expert, said in this regard: “The market situation in the past week was not favorable and finally closed negatively.” In the whole week, the index fell by more than one percent.
He added: “Transactions are still at their minimum levels and an average of four thousand and 500 billion tomans were traded daily.” Legal, governmental, quasi-governmental institutions and funds are not yet willing to buy, and a large part of their resources is involved in buying government bonds. The symbol of manifestation also attracted 933 billion tomans of liquidity from the market during the last two days.
Nasirzadeh stated: The trend of increasing the dollar rate continued this week and reached almost above 29,000 Tomans, but the stock market did not react to this increase and we did not see any sharp fluctuations in the global market.
Barjam and stock exchange negotiations
The stock market expert said: “We have a Vienna meeting for next week on Monday, and December 30 is the 21-month auction of government bonds, and the Central Bank will issue 7,650 billion tomans worth of bonds.”
He said: “Apart from all these factors, one of the significant points was the announcement of the priority of cutting the gas of cement companies.” This can also be stressful, as we have already had gas cuts in steels. With this trend, in the next few years, industries will be able to produce only in spring and autumn, and the rest are involved in power and gas cuts.
Nasirzadeh said: “Considering the current situation, the market will fluctuate and stagnate next week.” Borjam’s assignment in the middle of the week can affect the stock market. At the moment, we have not seen any signs of a return to the market, and the only group that was in the eyes of the market was the car group.
“In terms of trading, prices have reached supportive levels and only need a determination to move,” he said. The market as a whole is in a position to be favorable with some positive stimulus. But with the uncertainties, negative ambiguities, and sloppy decisions we see from policymakers, governments, and higher institutions, money has fled the market.
He added: “We hope the market will come to the conclusion that the stock market situation is worth investing in.” Otherwise, according to the available signals, we still do not see a special and positive pulse. This is at a time when the free exchange rate and Nima are stimulating for the market and the operating process of companies is good. However, we still see poor demand and unwillingness of capital flows to the stock market.
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