Stock market forecast for Wednesday, November 3, 1402 / Is the selling pressure continuing? – Tejarat News
According to Tejarat News, the early days of November were accompanied by the retreat of the glass hall stock indicators, while the case of the last days of Mehr was closed with a sense of balance. The popularity of nearly 75% of the stock market map was the result of trading on the first day of November this year. At the same time that the news reported from the West of the Middle East, including the postponement of Israel’s ground attack on Gaza, fueled the reduction of inflammation, the stock market indices faced a heavy drop in height today. But what was the reason for this?
On Monday morning, it was announced that the Competition Council had been retained in the car pricing debate. Meanwhile, the automobile working group of the National Competition Center had voted for the supervisory role of the Competition Council and excluded this body from direct decision-making in the issue of car pricing. Now it has become clear that the car mafia does not intend to withdraw from the astronomical profits of this market so easily.
Just as the market had a positive reaction to the news of the removal of the Competition Council from the executive department of car pricing, it reacted negatively in the middle of the week by maintaining this body in policies related to car pricing.
The negative atmosphere of the automobile group, which gradually spread to other stock market groups, is not limited to this negative news. The reports published on the Kodal system about the performance of the country’s two car manufacturing giants, Iran Khodro and Saipa, report that the losses of these two companies have increased. Iran Khodro reported a loss of 74 Tomans per share, and on the other hand, Sapia Construction reported a loss of 37 Tomans per share. The shadow of the loss of the country’s two largest car manufacturers weighed heavily on the market, and over time even groups such as bulk manufacturers and banks, which had registered Sabzefami’s uniform plan on Sunday, were on the negative side of the swing range.
The performance of the glass hall displays
At the end of trading on Tuesday, the main thermometer of the glass hall with a drop of 1.07%, equivalent to 21 thousand and 725 units from the height of this index, was on the border of two million units. The decrease in the height of the main indicator of the glass hall happened while the equal-weighted index, which shows the general price trend of small and medium-sized companies, registered a parallel performance but with a greater intensity, with a drop of 1.42%, equivalent to 9,768 units, at a height of 676 A thousand units were placed.
The overall OTC index, which reflects the general level of the stock prices of the companies present in the OTC, also dropped by 1.19 percent, equivalent to 296 points from the height of this index, and reached the range of 24,569 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 Tuesday at 4,184 billion tomans. The value of transactions experienced a slight increase compared to Monday, but placing the value of transactions in the channel of four 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 perspective for the stock market.
The board of Tehran Stock Exchange shows the trading volume of 6.8 billion shares on Tuesday. Experts believe that the more the trading volume reaches higher levels in the current ranges of the total index, the brighter 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.
Buying power in the market on Tuesday registered a negative figure of 1.41, which indicates that the sellers are more powerful 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 Tuesday reports the outflow of 493 billion tomans from shares, preemptive rights and mutual funds.
Wednesday stock forecast
It seems that the negative atmosphere ruling the market, which started on Monday, will continue. Especially, the effect of the negative reports of the companies neutralizes and hides the effects of the positive reports, and currently the excitement is high in the market.
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