The internet outage made the stock market bearish / the equal weight index fell

According to Tejarat News, the shareholders of the stock market today, Monday, as in recent days, saw the red in the transactions. It seems that a heavy recession has prevailed in the market.

Tehran Stock Exchange ended its work today, Monday, August 3, 1401, with a drop of 24,491 units. The total index, with a drop of more than 24 thousand units, registered a figure of 1.439 thousand units. The equal weight index also faced a drop with a decrease of 8,943 units, stabilizing this index in the range of 391,000 units.

This index entered a new channel, and according to analysts, this channel change is worrying for shareholders. The importance of this issue for the shareholders of the stock market is much more than the decline of the total index to lower channels. Many analysts also evaluate this as a negative sign of the market trend.

The internet cut off the market

According to the reports of users on social networks, mobile and fixed internet is slow and disconnected in many areas, especially offices and companies in Tehran.

A well-informed source in the Ministry of Communications and Technology told Tejarat News about this widespread outage: the power failure at the infrastructure communication company (LCT building) has led to an internet outage.

One of the experts in this field also explained on Twitter about the reason for the internet outage: Today is the second time in 1401 that the power failure in the LCT building caused[تقریبا] The entire network of the country will be affected. (domestic and international communications). The main equipment of most companies providing access services and data centers is located in this center and it is the heart of the country’s Internet.

The stock market fell for two years

In August 2019, the stock market began its downward trend, and to be more precise, on August 19, 2019, the stock market began to fall and has continued until today. This two-year decline was the reason for the withdrawal of investors’ liquidity. In some way, other stock market shareholders will lose their capital.

Due to this two-year drop, the confidence of shareholders decreased and no more liquidity entered this market.