Stock market forecast for Sunday, April 6, 1402 / the historical ceiling of the total index available in the market – Tejaratnews
According to Tejarat News, the capital market put on 1,402 green clothes on the first working day and was able to experience more than 37,000 units of growth and reach one step of the super channel of two million units.
At the end of trading on Saturday, the 5th of April, the total stock market index stood at a height of 1.998 thousand units after growing by 37,868 units.
The same weight index stood at 592 thousand 578 points with a growth of 7 thousand 329 points.
In the trading of the market on Saturday, for the second time, we saw the reopening of the Hekhshti symbol without a fluctuation range, which increased by 23% during this day, but the trading supervisor did not confirm it.
Continued outflow of money from fixed income funds
After a short break, the Tehran Stock Exchange is witnessing the continuation of the outflow of money from the fixed income funds of the capital market. The importance of this is due to the fact that usually with the continuous withdrawal of people’s capital from fixed income funds, stocks also improve day by day.
On Saturday, we saw the withdrawal of 434 billion Tomans of real money from tradable funds with fixed income. It should be noted that since March 20th, we have witnessed the withdrawal of money from these funds regularly on all trading days except March 28th.
Also, the value of transactions on the first trading day of the year was 8,732 billion tomans. It is important to note that this transaction value is higher than the average of the last two weeks of 1401.
New price of special oil products
According to the image that was circulated in the media on Saturday afternoon, the price of special products for the first half of April has been set at 35,007 Tomans.
The new rate has been set while in March this rate was set at 28,370 Tomans based on the dollar. This news will be important for the petrochemical and refining groups of the market and they will most likely face an increase in reception during the Sunday trading.
Reducing the fear of falling dollars?
The extreme fluctuations of the American bill last month had put the stock markets in a state of caution. On the first working day of the year, however, the currency market witnessed a heavy chatter and trading started at prices around 52 thousand tomans. This is despite the fact that the dollar ended the year 1401 at the price of 47 thousand tomans.
This growth, which was caused by the increase in tensions and military conflicts with the US positions in Syria, reduces the possibility of the dollar falling. Therefore, the capital market activists’ fear of a sharp drop in the price of the dollar is fading.
For this reason, people with more purchasing power start buying shares and the demand in the market increases.
Stock forecast
Although the presence of sellers was felt in the final minutes of the market, there is no big obstacle in front of the stock market in the direction of further growth.
However, in rising conditions, each stock will take its own path, and in this market, there are a number of stocks that will be in a downward trend.
According to the experts, the prediction of the stock market is the continuation of the prevailing positive trend and the conquest of the two million dollar channel in the rest of the week.
Read more market analysis reports on the stock market news page.