Tehran, Iran, May 6
Trend:
Since the beginning of the current Iranian year (started on March 21, 2019), the constant rise of stock market index continues, all the trading sessions in exchange market are positive and investments are growing.
Capital market expert Yousef Amin Davar discussed the current stock market situation in an interview with Trend.
The stock index was up 4,480 units during trading on May 4 in Iran's capital market. Last week, 27,314 million bonds were traded more than 2.91 million times, which is 23 percent and 78 percent increase respectively. The total value of traded bonds during this period reached $1.8 million indicating increase by 55 percent.
Meanwhile, 288 million units worth more than $714,674 have been traded from investment funds in Tehran Exchange, that was 52 percent increase. Total stock index increased by 16,332 units to 22,0109 units with 8.01 percent rise in the last last week.
"However, the important issue is that during past months the stock market fell behind foreign exchange. Gold markets shall compensate the losses, while we can not say when," he said. "It seems the market is currently unstable and its conditions are contradictory, hence no economic analysis is possible at this stage."
The expert indicated, "These days trading bank and auto shares are booming. The bank shares can be trusted considering the policy of the Head of Central Bank of Iran Abdolnasser Hemmati. However, the shares of two major automakers have losses, so it can be said that this trading is tense and the buyers are soon become sellers."