Tehran Stock Exchange reached 8 million and 180 thousand points with a decrease of 84,802 points on the second day of the week. This downward trend continues, while the intensity of the drop in the overall index has decreased compared to the previous day. It seems that this reduction in the intensity of the drop is a sign of a slower downward trend in the market, but selling pressure remains strong.
Analysis of Stock Market Transactions
In today's transactions, the number of trades reached 1,354,000, and the value of transactions was recorded at 46.6 trillion tomans. Although this level of trading activity indicates the continuation of trades at a significant level, it has not been able to help the overall index grow. The symbols of National Iranian Copper Industries Company (Foolad), Persian Gulf Petrochemical Industries Company (Fars), Social Security Investment Company (Shasta), Isfahan Steel Company (Foolad), Tamin Petroleum and Petrochemical Investment Company (TAPICO), Ghadir Investment Company (Ghadir), and Nour Energy Company (Nouri) were among the large and influential companies in the market that affected today's downward trend.
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Negative Trend in the Stock Market
The equal-weighted index also moved in the same direction as the overall index, decreasing by 2,262 points to reach 2 million and 189 thousand points. This drop simultaneously indicates that the negative trend in transactions is not limited to a few large and index-making companies, and stocks of smaller and medium-sized companies have also faced downward pressure overall.
Despite the reduced intensity of the overall index's drop compared to the previous day, to conclude about the market's trend change, it is necessary to evaluate the demand situation, the value of transactions, and the movement of large and small symbols in the coming days. These factors can determine the fate of the stock market.
Growth in Iran's Over-the-Counter Market
In comparison, Iran's over-the-counter market ended Sunday with a growth of 143 points, reaching a level of 65,046 points. The number of transactions in the over-the-counter market on this day was recorded at 786,687. The symbols of Faraz, Kogher, Marun, Mapna, Saman, Hormoz, and Sharanel are recognized as influential symbols in this market.
Overall, Sunday’s transactions were accompanied by a continued decline in Tehran Stock Exchange, a decrease in the intensity of the overall index's drop compared to the previous day, and an increase in the over-the-counter index. Despite the reduced downward pressure on the main stock index, the drop in the equal-weighted index indicates that there is no clear sign of a widespread improvement in the status of stocks in today's transactions, and the direction of the market in the coming days will depend on the continuation of demand and the change in the balance of supply and demand.
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