Stock market forecast for Saturday, May 16, 1402 / Total index of Tehran Stock Exchange will be 3 million?
According to Tejarat News, the stock market trading on Wednesday, especially in index symbols, was associated with negative fluctuations. The main indicator of the glass hall faced a drop of 3,651 units, which is equivalent to 0.1% of this index. Based on this, the total index stood at the level of two million and 514 thousand units at the end of trading on Wednesday.
On the other hand, the equal-weighted total index behaved against the total index and reached the level of 855,887 units with a growth of 1.2 percent.
Tehran Stock Exchange through the lens of statistics
The board of Tehran Stock Exchange shows the volume of transactions on Wednesday at 34.520 billion and the value of transactions at 23.495 billion tomans.
Investigating the ownership statistics of real people indicates the entry of real capital into the stock market. The real money inflow and outflow index at the end of Wednesday’s trading shows that 1,826 billion tomans worth of money has entered the stock market.
Examining a question; Has the backwardness of the capital market been compensated by the good growth of the last 6 months?
The total index of the stock market, with the upward trend of the last 6 months, has compensated part of its survival. The main question of the people of the capital market is whether the total index of two million and 500 thousand units will be the end of the upward trend or not?
To answer this question, we must first examine the answer to a more important question; Has Tehran Stock Exchange made up for its backwardness compared to parallel markets?
In terms of dollar value, Tehran Stock Exchange is still low. In August of 1999, the dollar value of the Tehran Stock Exchange had reached 350 billion dollars. At the beginning of Ebrahim Raeesi’s term and promises and agreements to revive the capital market, this figure had decreased to 230 billion dollars.
Currently, while the total stock market index stands at two million and 500 thousand units, the dollar value of the market is in the 180 billion dollar channel. Therefore, it seems that the Tehran Stock Exchange is still lagging behind inflation and parallel markets, and targets such as the three million index are easily available to the stock exchange.
Saturday stock market forecast
In the weeks that have passed since 1402, the first day of the week has always started with the strength of buyers in transactions. Regarding the upcoming week, experts believe that Saturday’s transactions will be accompanied by more demand than Wednesday’s.
In general, in the medium term, the upward trend of the capital market, due to the reasons mentioned above and previous reports, such as the backwardness of the market, being in the assembly season and the approval of the capital gains tax plan, which will push liquidity to the stock market, is considered to be bullish. In the short term, but with the continuous growth of the market, there is a need to rest the total index and the balance index.
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