The end of today’s stock market / The Council of Competition of the stock market has ground down – Tejaratnews
According to Tejarat News, stock trading started with caution today, and traders were following the trades with ups and downs while waiting for the instructions of the Competition Council regarding the regulation of the car market.
In the meantime, the Competition Council published the directive that it had approved on the 11th of February during the trading hours of the stock market, so that automobile stocks face a serious drop. In this way, cars were lined up for sale and this wave spread to the rest of the market.
Although experts believe that in principle the market should not be leader-oriented and consider the centrality of some symbols, including car symbols, to be the bane of the Tehran Stock Exchange, but the fact is that the situation of car manufacturers is a symbol of the state of Iran’s economy and conveys a message of uncertainty and instability in decisions to investors.
Therefore, as soon as the directive of the competition council was published – according to which the commodity exchange was removed from the path of discovering the price and sale of cars -, car symbols faced a heavy line of supply and withdrawal of real money.
This wave quickly spread to other symbols and market groups, so that finally, the integrated market became pale.
Performance of indicators
Today, the total stock market index fell by 17 thousand 59 points and retreated by 1.10 percent to reach the level of 1 million 540 thousand points.
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%.
At the same time, the free-floating indices of the first market and the second market of the stock exchange fell by 1.18%, 1.23% and 0.94%, respectively.
On the other side of the market, the total over-the-counter index fell by 213 points and was at the bottom of the channel of 20,000 points.
Effective symbols
Today, Midco, Shepna, Shabandar, Shetran, Femli, Hekshti and Shasta symbols had the most negative impact on the overall stock market index. Also, Khagstar, Khasapa, Shasta, Vetjarat, Chetran, Webmelet and Shepna were the most traded stock exchange symbols.
In the foreign exchange, the symbol of Zagros had the most positive impact and the symbols of Bepas, Shegoya, Aria, Di, Vohor and Ghosino had the most negative impact on the total index. At the same time, Day, Kerman, Faruj, Gedna, Faraborse, Haafrin and Samra were the most traded symbols of the OSE.
Transaction value
Today, 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.
Today, despite the relative growth in the value of stock market transactions, a lot of real money left the market. In other words, today more than 1,100 billion Tomans were changed from real to legal ownership, which shows traders’ mistrust of the capital market.
Read more reports on the stock news page.