Stock market forecast for Sunday, October 30, 1402 / Does the slow growth of the stock market continue? – Tejarat News
According to Tejarat News, the Tehran Stock Exchange started the first day of the week with a higher per capita purchase index than the per capita sales index. This has happened due to the fact that some stocks are in the oversold area. In fact, behind the curtain of the positive but weak performance of the glass hall indices on Saturday, there has been no change in the systematic risks of the market; But the large purchases of some market codes at the beginning of trading brought a lot of demand into the market.
Meanwhile, the Tehran Stock Exchange ended the first day of the week with a greenish trend in the stock indicators, which experts expected a negative day due to the pressure of the supply on Wednesday last week and also the increase in military tensions in the Middle East. However, the market went through two completely different halves. In such a way that the market trend was bullish until 10:30, but from this hour until the end of the market, the supply gradually intensified.
Therefore, even with the positive performance of the market, we cannot be sure about its continuation. But still, some single stocks that are in oversold conditions and have a good technical condition have the potential to be positive in the Sunday market. Observing the transactions of the Tehran Stock Exchange these days shows that the market needs a strong fundamental stimulus to overcome the current situation in order to strengthen the motivation of buyers. On the other hand, reducing the fire of war and moving towards peace between the two fronts can have a significant impact on the behavior of traders and investors of the Tehran Stock Exchange.
The performance of the glass hall displays
At the end of trading on Saturday, the main thermometer of the glass hall with a small growth of 0.07%, equivalent to 1,428 units of the height of this index, was at the level of 2,240,000 units.
The slight increase in the height of the main indicator of the glass hall happened while the equal weight index, which shows the general price trend of small and medium-sized companies, registered a parallel performance but with a greater intensity and with a growth of 0.48%, equivalent to three thousand and 266 units, in height 686 thousand units were placed.
The overall OTC index, which reflects the general level of the stock prices of the companies in the OTC, increased by 0.26 percent, equivalent to 65 points from the height of this index, to the range of 25 thousand and 92 points.
Tehran Stock Exchange in the mirror of statistics
The board of the Tehran Stock Exchange showed the value of small transactions (stocks, preemptive rights and mutual funds) on the first day of the week with a noticeable drop compared to the value of transactions on Wednesday last week, 3,468 billion tomans. Placing the value of transactions in the channel of three thousand billion tomans is still not enough to move towards the dynamics of the market. In general, until this evaluation index of the Tehran Stock Exchange cannot be stabilized in the ranges higher than five hemats, from the point of view of table reading, it is not possible to draw a clear vision ahead of the stock market.
The board of Tehran Stock Exchange shows the trading volume of 5.4 billion shares on Saturday. Experts believe that the more the trading volume reaches higher levels in the current ranges of the total index, the clearer the vision of the new wave of the total index will be drawn in the minds of the shareholders. Because the arrival of fresh shareholders makes the way up smoother.
The purchasing power in the market on Wednesday recorded a positive figure of 1.12, which, like the higher per capita purchase compared to the sale, indicated the greater strength of the buyers in the market. Also, checking the ownership statistics of real people on this day indicates the withdrawal of real people’s capital from the stock market. The index of capital inflows and outflows at the end of the stock market on Wednesday reports the outflow of 178 billion tomans from stocks, preemptive rights and mutual funds.
Sunday stock market forecast
According to what was reviewed, with the persistence of systematic risks casting a shadow on the stock market, it is not possible to comment with certainty regarding the continuation of positive market conditions. Therefore, according to what the experts emphasized before the start of the week, the stock market needs a fundamental stimulus to overcome the current conditions and fall on the upward track, which is currently absent in the market. On the other hand, some stocks that have the two conditions of suitable technical conditions and being in the oversold area are considered potential stocks these market days.
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