Weekly analysis of the stock market / continuous decline of the index – Tejaratnews
According to Tejarat News, the total index of the stock market last Wednesday was at 1,412,000 units, and this week it reached 1,389,000 units, registering a drop of about 1.6%.
Sara Fallah, a capital market expert, told Tejarat News: The third week of September has ended. The week started with severe negatives and finally the total index ended the week with more than 25,000 unit loss. One of the reasons for the negativity of the market this week is the disappointment of the JCPOA.
He stated: “The market does not expect the negotiations to reach a conclusion for at least two and three months.” The effect of this disappointment was clearly evident in the price of the free dollar. The unofficial dollar moved towards 31 thousand tomans and the expectation of breaking the previous ceiling is not out of mind. We also saw an increase in the price of half a dollar. Nimai’s currency officially reached over 27 thousand tomans, a figure that has been unprecedented since November 99.
Direct relationship between the dollar and the stock market
This capital market analyst explained: According to statistics, the dollar has always been between 80 and 85 percent of the free currency price. Therefore, now the price of the dollar is balanced to the free dollar. But the ratio of stock market to half dollar is important for us.
He continued: The dollar went up by half since Khordad 1400 and reached from 20 thousand to 27 thousand tomans, which means it grew by about 35%. In this one year and several months, the total index has yielded around 25% and the equal weight index has yielded less than 10%, which indicates the value and cheapness of the stock market.
Fallah finally said: Another reason for the negative market was the one-month reports that disappointed the stock market. The six-month reports have not yet arrived, but it seems that the market as a whole is disappointed with these reports and is anticipating the six-month reports. On the other hand, the situation of global prices is downward. The contractionary policies of the Federal Reserve continue, which has caused commodities to move towards stagnation and decline, and there is no clear outlook for at least the next few months.