Stock market forecast for Sunday, August 29, 1402 / Will cars leave the mandatory pricing?
According to Tejarat News, the stock exchange transactions were closed on the first day of the week in such a way that the total index moved in the direction of the last day of the last week. So that the main index of the glass hall faced a drop of 16 thousand and 61 units, which is equivalent to 0.81% of this index. Based on this, the total index stood at the level of one million and 957 thousand units at the end of Saturday trading.
The equal weight index also moved with the command of the total index, but its rate of descent was higher. In this way, the index of small and medium-sized companies reached the level of 677 thousand and 55 units with a decrease of 1.15% during the trading of the first day of the week.
Experts believe that the negative step of the total index was in response to the decline in the value of American bills against the Rial. Late last week, the foreign minister’s meeting with Bin Salman caused the US dollar to take a bearish guard.
Tehran Stock Exchange under the microscope of statistics and figures
It should be noted that the Tehran Stock Exchange board shows the volume of transactions on Saturday at 6.8 billion shares and the value of small transactions (shares, preemptive rights and mutual funds) at 3.827 billion tomans. It should be noted that this number is the lowest number in the last eight months.
Checking the ownership statistics of real people on the first day of the week indicates the withdrawal of real people’s capital from the stock market. The capital inflow and outflow index at the end of the stock exchange reports the outflow of 597 billion tomans from shares, preemptive rights and equity funds.
Rumblings of car exit from prescriptive pricing
The special meeting of Iran Khodro was held on Saturday in order to clarify in connection with the recent announcement of the admission board of the stock exchange. Last week, it was announced that Iran Khodro and Saipa have until the beginning of August next year to stay on the stock market and withdraw from Article 141.
In the text of this announcement, it is mentioned that in accordance with Part “C” Clause 5, Article 41 of the Guidelines for Acceptance of Securities in Tehran Stock Exchange, until the end of July 1403, in order to submit audited annual financial statements for the financial year ending on 12/29/1402 to Iran Khodro companies. And Saipa gave an opportunity to withdraw from the inclusion of Article 141 of the legal bill to amend a part of the trade law.
What was important for the shareholders in the special meeting of Iran Khodro was that there were whispers about the withdrawal of the car from the mandatory pricing. In a part of the talks of this meeting, it was revealed that in the 7th development plan of the country, there was an agreement to withdraw this industry from mandatory pricing.
In a part of the speech of the Iran Khodro Extraordinary Assembly, it was mentioned that in the 7th development program of the country, a decision has been agreed to remove mandatory pricing from this industry, or that correspondence has been made with various policy-making and influential departments on this issue, and it is expected that positive steps will be taken in Remove the order to remove pricing. In the continuation of the conversation, it was mentioned that there have been correspondences with policy makers on this issue and it is expected that positive steps will be taken in this direction.
However, it is not clear when and in what form this plan will be implemented despite the clear position of the Competition Council last week regarding the continuation of mandatory pricing on cars. In the meeting of the Competition Council on August 21 (four days before the news was published), the market of all cars, including manufactured, imported and assembled cars, was given a monopoly seal. This means that these three categories of cars are included in the mandatory pricing.
Sunday stock forecast
Experts believe that the recent drop in the stock market has caused many symbols to reach the value range. However, the successive exits of real capital from the market have made its engine cold and frozen. In such a case, the stock market should make a reliable floor in its current limits so that as soon as money enters and the value of the next wave of transactions rises, it starts its upward movement.
Therefore, for the Sunday market, the power of sellers seems to be less than on Saturday, and more symbols are placed in the equilibrium range.
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