The end of the stock market today, July 6, 1402/ The government’s bribe to petrochemicals made the stock market comatose.
According to Tejarat News, the integrated stock market was in the red today and even the few green symbols of the market experienced a slight positive under the influence of the atmosphere of mistrust created in the market.
The circulation of a letter in cyberspace, which had the signature of Mohammad Mokhbar, the first vice president, changed the stock market today. This letter dated the 17th of May this year announced the increase in the feed rate of petrochemicals from five to seven thousand tomans. It is interesting to note that the date of this letter corresponds to the beginning of the market collapse.
Accordingly, the heavy shadow of mistrust once again covered the Tehran Stock Exchange. The shareholders say that on that day, those who enjoyed the information rent, emptied the petrochemical shares and in this way pushed the stock market to fall.
At the same time, the stock market identified another risk with the news of the increase in the feed rate of petrochemicals and was convinced that the government has increased the pressure on listed companies; The pressure that ultimately leads to the reduction of the profit margin of these companies and the impact on the interests of the shareholders.
Performance of market indices
Following the dominance of negative news on the stock market, today the total index of the Tehran Stock Exchange fell by 27,923 units to stop at the level of 2,168,203 units with a 1.27% drop.
The total equal weight index was not in a better condition and with a drop of 0.73%, it decreased by five thousand and 544 steps and reached the level of 750 thousand and 637 units. The free floating indices, the first market and the second market experienced a drop of 1.17%, 1.47% and 1.05% respectively today.
Today, the total OTC index was also down and reached the level of 27,786 points with a drop of 240 points.
Effect of symbols
Today, the symbols of Fars, Parsan, Shepdis, Foulad, Waghdir, Femli and Shabandar had the most negative impact on the overall index of the stock market. Farsan and Parsan alone pushed the total index back by more than two thousand units. Meanwhile, Shahr, Khakmek, Venvin, Webmelet, Shipdis, Khodro and Khasapa were the most traded stock symbols in today’s transactions.
Today, the symbols of Aria, Zagros, Khavar, Vespehr, Saba, Fajhan and Shegoya had the most negative impact on the total OTC index. Meanwhile, Alis, Zafjar, Froud, Day, Nyan, Kerman and Khavar were the most traded symbols of this market.
Value and volume of transactions
Today, the stock market witnessed small transactions of stocks, mutual funds and preemptive rights worth 6,966 billion tomans. The total volume of market transactions reached 10 billion and 900 million shares. In this way, the stock market is still in an erosion recession.
On the other hand, today the stock market witnessed the outflow of 535 billion tomans of real money. Meanwhile, fixed income funds registered 80 billion tomans of real money.
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