Weekly performance of the stock market/government’s cover-up brought the stock market to the ground – Tejaratnews
According to Tejarat News, this week the stock market was held hostage by the unprofessional decisions of the government. At the beginning of the week, it was announced that the dollar rate of special oil products is going to be calculated with the remittance price of the exchange center, which is about 38 thousand tomans, and the price of 28 thousand 500 tomans is not a part of the Arabs. This news was a positive signal for the stock market, but following the pressure of the bitumen association, this decision lasted only one day and was quickly canceled.
Since yesterday, the disclosure of the first vice president Mohammad Mokhbar’s letter regarding the increase in petrochemical feed rates from 5,000 to 7,000 tomans has been controversial. According to this letter, it has been determined that the economic ministries have proposed this rate increase to the cabinet and the government has approved it.
In this way, this week, the stock market experienced two upward and downward paths, and as soon as it tried to take an upward path and breathe new life into the veins of the market, the shock of the petrochemical feed rate hit the market.
Performance of market indices
The trading of the first week of the stock market ended while the total index of the stock exchange dropped from the height of two million 173 thousand 893 units (at the beginning of the week’s trading) to the level of two million 153 thousand 408 units, and finally, a drop of 0.94 percent. submitted.
However, the equal weight index reached the level of 746 thousand 635 units from the height of 746 thousand 134 units (at the beginning of the week’s trading) and thus managed to register a growth of 0.07%; In this way, the equal weight index was practically stagnant during the first week of July and had no yield.
The total OTC index dropped by 1.34 percent this week and reached the level of 27 thousand 997 units (the beginning of the week’s trading) to the level of 27 thousand 621 units at the end of the week.
The volume and value of retail transactions
This week, the stock market was in recession, and the volume and value of small transactions were evaluated as disappointing. On Saturday, the stock market experienced transactions worth 6,424 billion tomans. The downward trend in the value of small transactions had spread to July from the last week of June.
On the second trading day of the week, Tehran Stock Exchange took a different path and went up. According to the growth of the total index with the help of dollar-based symbols, the value of small transactions also increased slightly and reached 7,842 billion tomans. On this day, the trading volume was estimated at 12.7 billion shares.
On Monday, however, the value of retail transactions decreased again and reached 6,755 billion tomans. The volume of retail transactions also decreased by 11 billion and 200 million shares.
On Tuesday, the 6th of July, the value of retail transactions reached 6,966 billion tomans, which was a very small increase compared to the previous day. However, the trading volume was down and recorded 10.9 billion shares.
On the last day of the week, the wave of mistrust towards the capital market strengthened, and the value of the transactions decreased by about one thousand billion tomans compared to the previous day, reaching 5,941 units. On this day, the trading volume was 10.4 billion shares.
Entry and exit of real money
This week, the stock market witnessed the outflow of real money. On the first day of this week, 444 billion Tomans of real money was withdrawn from the market. On the second day of the week, however, the market experienced better conditions in this regard and only 191 billion Tomans of ownership change from real to legal was registered.
On the third day of this week, the balance of real money was negative, and accordingly another 236 billion Tomans were withdrawn from the stock market. On the 6th of July, the withdrawal of real money intensified and thus 535 billion Tomans of real money left the market.
On the last day of this week, another 281 billion Tomans were changed from real to legal ownership, so that during the first week of July, more than 1,687 billion Tomans were withdrawn from the stock market.
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