Stock market forecast Monday, February 17, 1401 / shareholders’ capital under the blade of the competition council – Tejaratnews
According to Tejarat News, in the Sunday market, the total index of the stock exchange fell by 17 thousand and 59 units and retreated by 1.10 percent to reach the level of 1 million and 540 thousand units.
The equal-weighted index, representing the small and medium-sized companies of the market, dropped by 7,405 units and reached the level of 480,000 units by registering a decrease of 1.52%.
On Sunday, the Tehran Stock Exchange witnessed transactions worth 5,815 billion tomans. OTC also experienced transactions worth 11,693 billion tomans.
Of this amount, only 5 thousand 477 billion tomans were the share of small stock transactions, preemptive rights and stock funds. However, the same transaction amount also shows growth compared to the last trading day of last week.
In Sunday trading, despite the relative increase in the value of stock market transactions, a lot of real money was withdrawn from the market. In other words, on this day, more than 1,100 billion Tomans were changed from real to legal ownership, which shows traders’ mistrust of the capital market.
car; Capital market blind spot
In the Iranian capital market, it is hard to deny the leadership role of Khodro Group at different times in the previous years and decades; The current time slice is no exception to this rule. Especially since in November of this year and with the arrival of several high-volume cars in the commodity exchange, the greening of the market originated from this group.
Therefore, the current state of the stock market as a whole is tied to the conditions of the automobile group, and until the challenge of the supply of automobiles in the commodity exchange is not resolved, it is unlikely that a stable upward trend will be formed in the market.
The car is the blind spot of the market in recent days. A knot that could be untied by hand, but the interference of the competition council and the decisions of this institution has blinded it.
Capital Market; Competition council toy
These days, people’s capital and capital market activists have become a toy in the hands of the competition council. The first act of this farcical show was the sudden letter of the head of the Competition Council to the Securities and Exchange Organization, which shocked the market and led to the fall of the index and loss of shareholders.
In the second act, we saw the demonstrations and supportive gestures of Khandozi, the Minister of Economy and Assets, who has not brought anything to the shareholders.
In the last act, the Competition Council published the directive that it approved on February 11th, during the trading hours of Sunday, February 16th, so that the symbols of the automobile group can be sold. According to this instruction, there will be no news of price discovery and sale of cars in the commodity exchange.
It is not clear how long the game of good police, bad police of the Ministry of Economy, MPs and Competition Council is going to continue? In the meantime, how long will the shareholder have to witness the loss of his capital in the market, that too in an economy with inflation of more than 40 percent?
Tomorrow’s stock market forecast
Despite the events surrounding the Sunday market, it is expected that if something important does not happen regarding the supply of cars in the commodity exchange, the shareholders of the Tehran Stock Exchange will once again witness the red of the stock market map on Monday.
Read more reports on the stock news page.