According to Tejarat News, Tehran Stock Exchange paid special attention to the news today and followed up the transactions under the influence of positive news. Based on this, he was able to create a green day for the shareholders of all groups and witness the growth of the prices of large, small and medium stocks. Meanwhile, today the balance of real money in the market was positive and 136 billion Tomans were invested in stocks, pre-emptive rights and mutual funds.
Optimism of the stock market to remove the Competition Council
Today, the news about the “possibility of removing the Competition Council from car pricing” was posted on the Tasnim outlet, which had a positive effect on the stock market and made the car group as one of the market leaders. Based on this, it is said that the Automobile Working Group of the National Competition Center has approved that the Competition Council will only play a role in policymaking and supervision and that the execution of executive tasks will be left to the relevant institutions.
It should be noted that currently, the competition council is the main custodian of car pricing and even determining the amount and type of car imports is the responsibility of this council! Now, based on the new decree that has been unveiled, big changes will be made in the field of automobiles, from production and sales to its import. Accordingly, this merger is considered one of the most important effective news in today’s stock market transactions.
Injecting money into the market
It should be noted that another news was published today regarding the transfer of the resources of the National Development Fund to the Capital Market Stabilization Fund. Tasnim had reported that according to the announcement of the National Development Fund, in the next one or two days, this fund will again allocate resources to support and help the capital market.
It is said that the amount of resources allocated by the National Development Fund at this stage is about one thousand billion Tomans. Based on this, half of this amount will be allocated to the market stabilization fund and half of it will be used by one of the companies covered by the National Development Fund to buy shares.
Although injecting this money into the stock market is considered a positive action, capital market analysts believe that its amount is very small compared to the market’s needs and the value of the companies’ shares, and cannot be identified as a stimulus and lever to boost the market.
Reducing political risks
On the other hand, news was published today that US President Joe Biden emphasized in a conversation with CBS News that Iran has no role in the Gaza war. “I don’t want to go into the details of classified information, but I have to make it very clear to you that there is no clear document on this,” he stressed. Biden stated: Iran always supports Hamas and Hezbollah, but there is no evidence of whether Iran knew about Hamas’s attack in advance and helped plan it.
The publication of this news took a big risk from the markets. In such a way that the dollar price in Tehran’s open market decreased and was at the bottom of the channel of 50 thousand tomans. At the same time, the Tehran Stock Exchange was able to take a breather after overcoming the political risk of the market and was on an upward path.
The performance of stock market indices
Today, the total index of Tehran Stock Exchange experienced a growth of 0.81 percent with a jump of 16 thousand 250 units and stood at a height of 2 million 18 thousand 192 units. Equal weight index also experienced a similar situation and was increasing and even managed to record a better situation than the total index.
Today, the equal weight index increased by 8 thousand 97 units, equal to 1.19 percent, and reached a height of 686 thousand 799 units. The total OTC index was positive today and reached 25 thousand 157 points with a growth of 309 points.
Volume and value of transactions
Today, the Tehran Stock Exchange witnessed transactions worth five thousand and 480 billion tomans. At the same time, the value of over-the-counter transactions reached 221,733 billion tomans, of which stock transactions accounted for only 896 billion tomans, and the rest was allocated to Islamic financial bond transactions and the Central Bank’s open market operations.
However, the value of small transactions of stocks, preemptive rights and equity funds decreased slightly compared to the previous day and finally reached 3,875 billion tomans. This was while the volume of small transactions was also facing a drop and reached 6 billion and 700 million shares.
Today, the symbols of Foulad, Shepna, Shabandar, Shasta, Khodro, Kechad and Shatran had the most positive impact on the total index of the stock market. Meanwhile, Shasta, Khagstar, Khodro, Tekardan, Thaman, Kala and Webmelet were the most traded stock exchange symbols.
On the other side of the market, the symbols of Bepas, Vespehr, Khavar, Shawan, Shegoya, Hormuz and Farabourse had the most positive impact on the total Fraebourse index. Also, symbols of Haafrin, Day, Khavar, Bemold, Kerman, Frabours and Fanfar were the most traded symbols of the exchange.
Read more reports on the capital market page.