Iranian Market Reacts to Soleimani Death

The Tehran stock market fell sharply at the end of trading on Saturday, with both the dollar and the euro rising.

The Tehran Stock Exchange ended trading on Saturday, January 9th, one day after the killing of Qasim Soleimani, the  strong commander of the Quds Force in the US air strike, fell to 7.25 points.

The stock index, which has been gaining momentum in recent weeks, fell sharply from the first hour of trading today, and at the end of the day, it entered the 9/7 channel.

According to the reports, today’s stock traders traded 5  5 million stocks and shares in the form of 2 thousand and 7 times the value of 6 thousand and 7 billion tomans..

Amir Ali Amir Bagheri, an expert on capital markets, told IRNA: “In today’, the market seems to be under pressure from investors, and in the mid-market, supply pressure is driven by demand from the underlying stock and index. “The instrument is going to be balanced, but it all depends on how big market industries support the market.”

On the other hand, the price of the dollar in the domestic market also increased, with the price of the free market at $ 4,000. However, last week the dollar remained in the channel at $ 4,000. Thus, the dollar experienced a growth of 5 USD in the first day of the Iranian market.

The euro was also traded at the market at a price of 3,000 tomans, which rose by 4 tomans from the previous days.

However, as oil prices rose on the last trading day of the week as news of Qassem Suleimani’s death came to light, stock markets entered the red phase.