Closing Bell, Wednesday 22 Mehr 1405: Leveraged Funds Lead Market's Downtrend + Table

The Tehran Stock Exchange opened trading today with buy orders worth 39 hemmat, and in the first minutes 80% of symbols opened in positive territory. However, this green phase did not last long. As supply increased, some leveraged funds joined the sell queue and the market gradually left its upward trend.

According to the report of Arjan Ambassador, BAZAR stock had a strong start today in pre-opening with about 39 buy orders. In the opening minutes, about 80% of the symbols opened in the positive range and the general trading atmosphere was green. However, as trading time passed, supply pressure increased and some of the initial demand fell back.

One of the signs of the change in the market environment was the situation of leveraged funds; Funds that were moving with a positive atmosphere at the beginning of trading, but gradually faced increasing selling pressure and some of them reached the selling queue. Later, the wave of supply spread to other parts of the market and finally the share of positive symbols decreased to 50%.

Along with internal market factors, the increase in systematic risks also affected traders' caution. The news of the sinking of an offending container ship with 2,500 containers in the south of the Strait of Hormuz, in an environment where the market's sensitivity to regional developments is high, can affect risk expectations. However, not all the change in trading direction can be attributed to this news alone.

The decline of the total index against the growth of the equal weight index

At the end of today's trading, the total stock market index dropped by 34,772 units, equivalent to 0.41%, to 8,425,000 units. On the other hand, the equal weight index moved against the total index and stood at the level of 2,225,000 units with a growth of 5,772 units, equivalent to 0.26%.

This divergence shows that despite the selling pressure in large symbols and their negative effect on the overall index, some of the small and medium stocks performed better. The balance index remaining positive, along with 50% of the symbols being in the positive range, is consistent with this picture.

103 billion shares were traded in shares, preemptive rights and mutual funds, and the value of transactions reached 53,380 billion tomans. Per capita purchase was 89 million Tomans and per capita sale was 123 million Tomans; Therefore, sellers had higher deals per capita. Purchasing power is also recorded in table 1.38.

In the liquidity sector, 441 billion tomans of money was withdrawn from stocks, preemptive rights and mutual funds. This outflow of money, along with the higher per capita sales, shows that the supply pressure is not limited to changing the color of the signs and is also accompanied by the outflow of cash.

Systematic risks under the market microscope

The release of the news of the sinking of a container ship with 2,500 containers in the south of the Strait of Hormuz, if the details are confirmed, can add to the concerns about the increase in regional risks. However, available reports about a similar incident in the Strait of Hormuz in July reported that the ship ran aground and did not sink; Therefore, the details of the mentioned news require independent confirmation.

In general, today's stock market, after a strong start and 80% of the symbols being green, moved away from the initial path with the increase in supplies and the gradual negative of leveraged funds. The drop in the total index, the outflow of money and the superiority of sales per capita show that the caution of traders has increased; However, the growth of the equal weight index indicates that the sales pressure was not the same in all market segments.