The total stock index, according to the latest trading data published for October 2, stands at 7 million and 257 thousand and 43 units. This figure, compared to the end of September when the index was at 7 million and 167 thousand and 335 units, indicates a return of more than 89 thousand units to the market. At the same time, the equal-weighted index has reached 1 million and 939 thousand and 20 units, and the value of retail transactions has been reported at 73 trillion tomans.
Stock Market Developments in October
The start of October for the stock market did not coincide with continued selling pressure from September. The total index, which reached 7 million and 167 thousand and 335 units at the end of September 31, rose by 89 thousand and 427 units on the first day of October, reaching over 7 million and 256 thousand units. Additionally, 75% of the market symbols ended their transactions in positive territory.
In the latest data published for October 2, the IFEX stands at 22 thousand and 450 units, and the petrochemical group index is reported at 19 thousand and 850 units. This change in direction occurred while the market had just experienced four consecutive sessions of decline a few days earlier.
Forecast for the Total Index and Transaction Value
The pivotal figure for this scenario by the end of October is 7 million and 720 thousand units for the total index. This figure is not a definitive prediction but a numerical estimate based on the current behavior of the index, the return of demand, transaction levels, and the conditions of major industries in the market. The base estimate for the first trading session after Friday is 7 million and 305 thousand units for the total index.
Continuing transaction values above 45 trillion tomans is deemed important for the sustainability of the trend. In this scenario, the growth of petrochemical, metal, refining, and banking industries, along with the improvement of transactions in smaller symbols, could alter the quality of market movement.
