On the second trading day of the week, Tehran Stock Exchange was under selling pressure and decreased by 29,139 units to reach a level of eight million and 15 units. Despite this decline, the stock market was able to maintain the eight million unit channel, which is of great psychological importance to market participants.
Decrease in Selling Pressure and Continuation of Trades
An analysis of trading trends shows that although the overall index of the stock market is still moving downward, the extent of its decline compared to the previous day has been less. This could be a sign of a relative decrease in selling pressure. However, to assess a change in market trend, one cannot solely rely on the reduction in the extent of the index's decline.
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During today's trading, the number of transactions on Tehran Stock Exchange exceeded one million, and the value of transactions reached 41.9 trillion tomans (Hemat). The continuation of high trading volume alongside the decline of the overall index indicates that the market is still experiencing significant activity from traders, but this activity has not led to a change in the overall direction of the index. Among the influential symbols in the trading of Tehran Stock Exchange were Foulad, Pars, Shapna, Shasta, Shatran, Tappico, and Vaghdir.
Positive Trend in Iran's Over-the-Counter Market
On the other side of the capital market, the overall index of Iran's Over-the-Counter market had a positive trend, increasing by 85 units to reach a level of 67,115 units. The number of registered transactions in the Over-the-Counter market also reached 514,255. The symbols Koghar, Fzar, Maroon, Arya, Saman, Shanel, and Fajahan were among the influential symbols in the trading of this market.
Comparing the trading trends of the two markets shows that Tehran Stock Exchange is still facing a dominant downward trend, but the reduced intensity of the overall index's decline compared to the previous day may indicate a relative adjustment of selling pressure. In contrast, the limited growth of the Over-the-Counter index indicates that the direction of market movements today has not been the same.
However, maintaining the eight million unit channel alone does not signify the end of the downward trend. To determine the potential stability of the market, the trends of the indices, the value of transactions, and the behavior of large symbols in the coming days must also be considered.
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