Tehran Stock Exchange Falls 235,000 Points in 1 Week
EghtesadOnline: In a week marked by intense market turbulence, the Tehran Stock Exchange experienced a dramatic and historic decline, with the overall index plummeting over 235,000 points.
In a week marked by intense market turbulence, the Tehran Stock Exchange experienced a dramatic and historic decline, with the overall index plummeting over 235,000 points.
Ali Faraghi, a capital market expert, analyzed the situation of the past week and stated, "We are currently witnessing the most unfavorable working week in the stock market's history. Considering the trading activities of the past week and the existing technical and fundamental perspectives, we can anticipate the most probable trend in the market," Mehr quoted him as saying.
"Given the intense volatility that occurred in the early days of last week, we witnessed a significant level of excitement in the market. Then, in the second half of the week, we experienced another wave of selling, primarily driven by the fear of individual shareholders, as they once again resorted to selling their shares due to a lingering aura of fear," he added.
Faraghi stated, "For the upcoming week, we are likely to see a start dominated by supply in the market. Following that, as mentioned earlier, within the range of 2,200,000 points, we might witness the second wave of demand after last week's Wednesday."
"If buyers maintain their purchasing power, we can envision a positive market outlook, at least on a working day, contrary to the previous week's Wednesday," he added.
According to Eghtesadnews, during the past week, 106.3 billion rials of capital exited the stock market, with an average daily outflow standing at 20.12 billion rials.