Iran’s Main Index Falls While Farabourse Index Rises in October 18 Trading
Trading on Sunday, October 18, at the Tehran Stock Exchange continued its correction trend but with a noticeable reduction in the severity of the main index decline; during the second day of the week, the stock market's main indicator fell 84,802 points to 8,180,000 units, and in line with it, the equal-weighted index also dropped 2,262 points to 2,189,000 units, while the Iran Farabourse board registered positive growth contrary to the main Tehran Stock Exchange trend.
The Tehran Stock Exchange main index today, Sunday, October 18, fell 84,802 points and stood at 8,180,000 units. This comes as the stock market experienced a heavier decline in yesterday’s trading, and the reduced severity of today’s drop can be seen as a sign of the market’s downtrend slowing; however, the continued decline of indices still indicates selling pressure in the market.
In today’s trading, the number of Tehran Stock Exchange trades reached 1,354,000, and trading value was recorded at 46.6 trillion tomans. This level of trading activity alongside the main index decline shows that trading continued at significant volumes, but this activity did not lead to growth in the market’s main indicator. Among the symbols influencing the Tehran Stock Exchange were Fmeli, Fars, Shasta, Foolad, Tapico, Vaghdir, and Nouri; symbols that are among the large and influential companies of the stock market.
The equal-weighted index also moved in the same direction as the main index today, falling 2,262 points to 2,189,000 units. The simultaneous decline of both indices shows that the negative trading trend was not limited to a number of large and index-driving companies, and shares of smaller and medium-sized companies also faced downward pressure overall. Of course, the reduced severity of the main index decline compared to yesterday is not alone sufficient to conclude a change in market direction. To assess the likelihood of the stock market returning to an upward path, the trend of indices in the coming days, demand conditions, trading value, and the movement of large and small symbols must also be examined.
Farabourse Turns Green Contrary to Tehran Stock Exchange
On the other side of the capital market, the Iran Farabourse, contrary to the Tehran Stock Exchange’s downtrend, ended Sunday’s trading with main index growth. The Farabourse main index rose 143 points to 65,046 units. The number of Farabourse trades on this day was recorded at 786,687. Fazar, Koghar, Marun, Vamapna, Saman, Hormoz, and Sharanel were among the symbols influencing this market’s trading.
Overall, Sunday’s trading was accompanied by the continued decline of the Tehran Stock Exchange, a reduction in the severity of the main index fall compared to yesterday, and growth in the Farabourse index. Despite the reduced downward pressure on the stock exchange’s main index, the decline in the equal-weighted index shows that no clear sign of comprehensive improvement in the stock market’s condition is visible in today’s trading, and the market’s direction in the coming days will depend on continued demand and a shift in the supply-demand balance.