The stock index, which had grown by about 1000 units in the first minutes of today’s trading session (Sunday, Nov. 4th, 2018)), was immediately negative after releasing news of the CFT bill’s rejection by the Guardian Council, ending 530 steps downward. Taking the first 1000 units growth in consideration, the total collapse of the stock exchange down turning is equal to 1530 units.
The stock exchange, which witnessed positive developments with an optimistic trend this morning, became reddened after revelations on the rejection of the bill on the Counter-Terrorism Financing Convention (CFT) in the Guardian Council; the bill, which was one of the four Iranian government bills for Iran’s membership in the Special Financial Action Task Force (FATF), is a decision-making body in the global fighting against money laundering and terrorism financing.
In recent weeks, there has been a great concern among stock exchange stakeholders of the Iranian companies about the launch of US sanctions on November 4th and its devastating impact on country’s economy, but with the passing of time and the apparent failure of the United States to turn the oil exports from Iran to zero and its final impact on the economic situation, a hopeful atmosphere was formed in the stock market.
Accordingly, the positive atmosphere was dominant in the stock market and other financial markets, and concerns over US sanctions were resolved, but the announcement of the cessation of the CFT bill by the Guardian Council suddenly changed the situation, with concern among the stockholders.
The collective fall of the main indicators of the capital market
At the end of today’s trading session, the stock index fell by 530 units reaching to 182,918. On today’s trading, 2 billions, 127 million shares, securities and valid documents worth 6,575 billion Rials were traded in 149,004 times.
A review of the main indicators of the capital market shows that the price index (weighted-value), in which the value of the shares of the large companies affects the indicator, dropped by 154, and the total index (weighted), in which the value and weight of all large to small companies affect similarly the calculation of the total index, decreased by 225 units.
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