TEHRAN, Iran, Jan.6
Trend:
Iran's stock index drop in recent days was due to market agitation after the news of assassination of General Soleimani, Managing Director of Sepehr Saderat Financial Group Behrouz Khodarahmi told Trend.
"The issue is related to emotional reaction of market investors whose behavior was partly effected by the news of General Soleimani's murder, although there was no analysis over agitation in the market," the managing director said.
Khodarahmi noted that index of some small companies had big growth in the past months, so their share drop was quite natural.
"Despite the fall of the volume of trading in the stock market, the Securities and Exchange Organization plans to balance the market," he said.
"The perception of stock market by investors will be positive by the end of current Iranian year(started March 21.2020), since their view is different and currently there is no other rival for investment," the official said.
"The US dollar rate in Iran's foreign exchange market has increased up to 140,000 rial due to recent commotions, but its should be considered that the US dollar rate does not have cohesive market. Moreover, there are expectations that there will be fall of price on the global level, as the USD index has dropped in global market," he added.
Iran's stock market trading on Jan. 5 was 6.9 billion shares valued 30 billion rial (about $714,000) while stock index had dropped by 16,765 units.
The biggest fall of stock index was 16,000 units. Experts believe that despite the significant fall, the trend will reverse in short time and the stock index will start to rise.