The efficiency of the markets in the first week of June 1402 / Sekke was flagged – Tejaratnews
According to Tejarat News, the first week of June, unlike last week, was associated with positive market returns. This week, the coin with the highest yield was the flagship of the price increase in the financial markets, followed by the stock market, gold and the dollar.
The financial markets could have achieved better results in the last week, if the favorable political news did not break the support ranges! The last days of this week coincided with the news of the arrival of the King of Oman to Iran on Sunday (7th of Khordad).
A trip whose impact on Ferdowsi market in the last trading hours on Wednesday was reduced. With this news, the price of the dollar dropped more than 500 tomans and lost the support range of 52,200 tomans. The price of the coin, which had entered the channel of 32 million tomans, returned to the first half of the channel of 31 million tomans.
This political trip is important due to the fact that due to the history of Oman’s mediation in the matter of nuclear negotiations, many hope that this time the King of Oman will contain positive news from the nuclear negotiations. It is possible that this trip, especially on the eve of the meeting of the Council of Governors (June 15-19), can open the blind knot of the JCPOA negotiations.
On the other hand, some believe that the visit of the King of Oman to Iran has nothing to do with the JCPOA and is related to the resumption of relations between Iran and Egypt. It was last week that the Sultan of Oman visited Egypt in order to improve Tehran-Cairo relations.
Price Dollar
Efficiency check Dollar price From the 28th of May to today, the 4th of June, it shows that the American bill has increased in price by 300 Tomans. The yield of the dollar was positive this week, but this note had the lowest price growth in the financial markets with a yield of 0.59%.
According to traders, the issue of the visit of the King of Oman to Iran in the last trading hours of yesterday reduced the price of the dollar. Therefore, the decliners of the currency market hope that the price of the dollar will reach lower channels after this trip.
According to foreign exchange market traders, whether the result of this meeting is a positive trend towards the JCPOA negotiations or an improvement in relations between Iran and Egypt, any agreement can bring the financial markets to a decreasing or stable trend.
Price gold
In addition to the impact of the drop in the price of the dollar on the gold and coin market, following the news of the visit of the King of Oman to Iran, the price of all coins decreased. Imami coin, Bahar and Nimsekke returned to lower price channels with the price decrease. But the drop in the global gold price was not unaffected by this decline. It has been more than 10 days since the global gold price lost the $2,000 range, and this has had a double effect on the price drop in the precious metals market.
Despite this downward trend, the yield of gold turned positive due to the increase in the price of the first half of this week. Gold was traded on Thursday, the 4th of June, at the amount of two million and 530 thousand tomans. In this way, the price of gold increased by 0.92% in the first week of June and increased by 23 thousand 100 tomans. It should be noted that the world gold price has reached 1959 dollars at the time of writing this report.
Price coin
Last week, Emami coin had a negative yield of 6.23%, but this week it gained the highest yield in the financial markets. The share of this piece in the last week was a price increase of one million tomans and a positive return of 3.29%.
On Thursday, May 28, the coin was traded at 30,380,000 Tomans, and today, June 4th, it reached the price of 31,381,000 Tomans.
Exchange
Examining stock exchange transactions in the first week of June shows that although the capital market formed a generally green map this week, the upward trend was the main indicator of the stock market. Because despite four consecutive positive days of stock market indicators, the total index grew only 1.03 this week. In this way, the total index was able to reach two million and 345 thousand units from two million and 321 thousand units during this week.
But the growth of the weighted index this week was higher than the total index, which indicates the increase in the price of small shares of the market. Accordingly, during this week’s trading, the stock market increased its weighted index from the height of 760 thousand 973 units to 792 thousand 907 units. In this way, the index of small and medium companies in the capital market grew by 4.19% in the first week of June.
The highest and lowest yield of the week
The analysis of the transactions of the first week of June shows that Goshan and Chakhazer were named the most profitable stocks of the market with an increase of 31% during the transactions of this week and reached the levels of 4915 and 9900 Tomans.
The closest identified resistance for Chekhazer is the level of 1175 Tomans. It should be seen if the share trading value increases, whether Chakhzar has the ability to overcome this resistance or not?
On the other hand, during this week’s transactions, Vamir became cheaper by 13% compared to last week and reached the level of 41355 Tomans. The support of 33800 Tomans is the most important level that can prevent the share from continuing to fall. This week, Shahdeer faced a 12% drop in the market and showed 8529 Tomans on the stock market board.
Read more reports on the currency and gold news page.