The stock market remains red today / When does the uptrend start?
According to Tejarat News, the total index is in the middle of today’s market with a drop of more than 12,000 units in the channel of 1,430,000 units. The total index and the homogeneity index are both negative 0.8%.
Steel and household continue to have the most negative impact on the overall index. The stock exchange symbol reopened today with a positive 52%. A sales queue has already been formed for this symbol.
Most large groups, including base metals, banks, petroleum products, chemicals, and automobiles, are red in most symbols.
The downward trend of the stock market will end in another month and a half
Mustafa Majd, a stock market expert, said that YTM’s return on correctional treasury bills has reached 24 percent. This is the highest figure in the past year. Until the government is forced to sell bonds, one should not expect an upward trend from the stock market.
He stated: The downward trend in the capital market has started since August last year. The market does not have a significant uptrend or downtrend and most stocks have reached equilibrium within a price range. At present, despite the negative market, prices do not change much.
Majd added: “Recession periods are usually 20 months, now we have had a stagnant market for about 17 months.” After each period of recession, we will have a very large period of ascent of about 40 months. Due to events such as rising inflation, rising dollar prices and negotiations, the stock market will begin its upward trend in the next month and a half.
“Examining the historical periods of the financial markets, we conclude that a relatively good uptrend for the stock market will begin in the next month and a half,” he said.
“The volume of negative trades is high and it is unlikely that the green market will end,” he said. Basic metals, including steel, are currently the most valuable stocks on the market, and I do not know why they are red now.
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