Stock market forecast Monday, July 12, 1402 / Will Khodro group start the stock market rally again?
According to Tejarat News, after a long time, Tehran Stock Exchange finally got a taste of green stock map. However, the suspension of the value of transactions at levels lower than 6 thousand billion tomans has made the sweetness of the growth of the index not stick to the hearts of the shareholders. Therefore, in spite of the good growth of the indexers of the glass hall, few people talk about the completion of the correction process with certainty.
Based on this, the total index stood at the level of two million and 157 thousand units at the end of Sunday trading. The positive news regarding car manufacturers carried the most positive atmosphere in the capital market today.
During the trading on Sunday, the growth of small stock companies was higher and they overtook the index makers. In such a way that the equal weight index reached the level of 754 thousand 966 units with a growth of 1.07 percent.
Tehran Stock Exchange under the microscope of statistics and figures
Investigating the ownership statistics of real people indicates that the process of the withdrawal of real capital from the stock market has stopped. The index of capital inflows and outflows at the end of the stock exchange on Sunday reports the inflow of a small amount of 43 billion tomans from the stock market.
Also, the board of the Tehran Stock Exchange shows the volume of transactions at 9.3 billion and the value of transactions at 5.909 billion tomans.
From cars to dollars; Stock market growth drivers
In recent weeks, frustration with the market had peaked. Looking at the sales pressure and the continuous withdrawal of capital from stocks during this period, it is not difficult to identify the reasons for this situation.
Also, while the value of transactions reached a height of more than 20 thousand billion tomans per day in April and May of this year, it is currently below 6 thousand billion tomans.
Many believe that in such cases, the market needs a strong positive shock to overcome the downward trend. Otherwise, the positive news that is published only provides an opportunity for traders to fluctuate and shareholders to exit.
Today, news broke in the market, which was able to completely change the sentiment of the market. Until around 10 o’clock on Sunday, the “Car” symbol sat in the shopping queue. These conditions also prevailed for Khasapa, with the difference that the country’s second largest car manufacturer was in a queue to buy until the end of the trading period.
As stock traders remember well, the strong rally of the Tehran Stock Exchange was started at the beginning of November last year with the entry of high-volume cars into the commodity exchange. This meant selling the manufacturer at competitive prices and away from mandated pricing. But this story was short-lived and with the entry of the Competition Council, after only a few months, the high-volume cars were removed from the commodity exchange. Therefore, the potential of the automobile group in playing a leading role for stocks has already passed its test.
On Sunday, the news about the possibility of the Competition Council revising the prices set for car manufacturers’ products was able to bring a flow of demand into the stock market. Now, the shareholders of the automobile group and all market participants hope that by revising the announced prices, the conditions of the car manufacturers will improve and after that the positive sentiment will spread to other groups.
It was also mentioned in previous reports that the expectations regarding the dollar price trend have increased due to the developments of the US foreign policy team. Although some experts believe that the price of the dollar has a bubble in terms of value compared to the rial, the forced leave of Robert Mali, who generally had positions close to the revival of the agreement, may change the behavior of Ferdowsi square traders. Therefore, the return of the American bill to the corridor of 50 thousand tomans played an important role in the greening of the stock market today.
Monday stock market forecast
During the trading process on Sunday, the Tehran Stock Exchange was facing an increasing trend of demand. This process continued until the end of the trading period. Accordingly, in connection with the mid-week stock market forecast, it should be stated that the bottom of the scale weighs heavily towards the greenness of the indicators of the glass hall.
Read more reports on the stock news page.