Stock market forecast for Monday, June 8, 1402 / stock market reaction to political openings – Tejaratnews
According to Tejarat News, Tehran Stock Exchange spent today’s trading on the same downward path as the previous day and moved downhill at a faster pace. The total index of Tehran Stock Exchange decreased by 54 thousand 198 units, equivalent to 2.34%, and reached the level of 2 million 257 thousand units.
On Sunday, the equal weight index had downward movements and with the fall of 26 thousand 389 units, it decreased by 3.38% and retreated to the level of 754 thousand 423 units.
Tehran Stock Exchange according to statistics
On Sunday, the Tehran Stock Exchange witnessed transactions worth 10,555 billion tomans. On the other hand, the volume of transactions was 18 billion 400 million shares, which has significantly decreased compared to the previous weeks.
During Sunday’s trading, the stock market again witnessed the escape of real estates. On this day, more than two thousand and 100 billion tomans of ownership was registered from real to legal ownership, which shows the return of mistrust in the stock market. Also, the average per capita sales on Sunday was higher than other days. The withdrawal of money is a function of shareholders’ fear and in order to prevent their further losses.
While during the last week, the balance of inflow and outflow of real money was gradually positive, but during the last three trading days, this direction has been reversed and the change of ownership from real to legal has intensified. Putting together the negative data related to Sunday trading can be interpreted from the point of view that the lack of vision for the future has put the market in a coma.
The advance of the capital market to political openings
Experts believe that if political openings become a reality, systematic risks will decrease. Also, the asset markets will move towards positive long-term prospects.
Although the reduction of systematic risks will improve the efficiency and dynamics of the markets in the long term, in the short term, we see that the market, at least in dollar-oriented industries, cannot keep up with the falling prices of the dollar, and the companies listed on the Tehran Stock Exchange, with a decrease in profitability in their financial statements. They will face themselves.
The main point in this regard is to pay attention to the currency market. Even up to the moment of writing this report, we can see that Ferdowsi Square transactions have not repeated the reaction of the capital market to possible political openings. The American banknote is trading in the range of 51,600 tomans.
The Sultan of Oman’s entry into the country has dimensions that must be examined. What kind of message he carries or what will be the reaction of the Iranian side to his message are factors that must be determined in order to clarify the future of the market.
The view of the people of the capital market is a bit biased. The strong selling pressure at the beginning of Sunday’s trading is probably because investors and stock market traders expect the price of the dollar to decrease in the near future.
Monday stock market forecast
From the neutrality of the currency market at the same time as the strong reaction of the stock market to the issues raised in the country, it can be concluded that there is more emotion and excitement in the stock market and the people of the capital market. Part of the fear of shareholders in such situations can be attributed to the structural mistrust of people in the stock market. When confidence in the market is low, a wave of supply is formed by a small event.
However, a review of the final minutes of Sunday’s trading shows that some of the sales queues have gathered. In the meantime, to predict the stock market on Monday and the rest of the week, experts believe that the supply will not end at the current ranges and we should wait for a retest of the range of two million to two million and 100 thousand units.
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