5 Trillion Toman Drop in the Value of Iran's Stock Market

The newspaper Etemad has emphasized in its front page titled "Iran After the End of Vienna" that "the extension of negotiations kept the atmosphere of hope and expectation alive, and defending the nuclear team has become the focus of statements." The government-aligned newspaper Iran also reported on its front page about the "long queue of supporters of nuclear negotiations," stating that "high-ranking figures supported the results of the Vienna meeting." Newspapers such as Kayhan, Javan, Resalat, Hemayat, Quds, Jam-e Jam, and Khorasan have quoted Ali Khamenei, the Supreme Leader of the Islamic Republic, in their main headlines, stating: "The enemy could not bring Iran to its knees in the nuclear issue." The newspaper Ebtekar reported on its front page about the "market's reaction to the extension of negotiations" and the "shift in the dollar's direction," noting that its price increased to 3265 tomans. The newspaper Jahan San'at assessed the stock market's reaction to the end of the Vienna negotiations as a "political reaction" and reported a "5 trillion toman drop in the value of the stock market in one day." The newspaper Te'adol reported on "the second largest drop in the overall index in 1393" on Tuesday, describing it as the "nuclear collapse of Tehran's stock market." The newspaper Shargh highlighted the statements and statistics from the spokesperson of the Judicial Commission of the Islamic Consultative Assembly regarding the extent of violence against women in Iran, quoting Mohammad Ali Esfahani as saying: "In Iran, the mortality rate due to violence among women aged 15 to 44 is equal to the mortality rate due to cancer." The newspaper Kasb o Kar published a report on "holding underground fashion shows in Tehran," stating that "many of these underground fashion shows invite their guests via SMS or printed invitations." Newspapers such as Shargh, Etemad, Javan, Hemayat, Donya-ye Eghtesad, Vatan-e Emruz, Resalat, Siyasat-e Rooz, Kayhan, and Mardomsalari dedicated their front-page photos to protests and unrest in "Ferguson." The newspaper Etemad wrote that these protests "erupted following the acquittal of a police officer accused of killing an African American teenager." The newspaper Vatan-e Emruz described the protests in Ferguson as a "uprising of the enslaved." After the end of the Vienna negotiations, the newspaper Etemad emphasized that "the extension of negotiations kept the atmosphere of hope and expectation alive, and defending the nuclear team has become the focus of statements." This newspaper noted that "the situation is good. All reactions are positive, which is something few expected" because "after the announcement of the seven-month extension of Iran's nuclear negotiations, this time all politicians in the country rallied behind the Iranian negotiators and spoke of support. This support even extended to government critics, uniting them with the country's politicians in stating that Iranian diplomats would not agree to any deal." Etemad emphasized that one day after the end of the Vienna negotiations, "what formed the common ground of all comments was the confirmation of the extension of negotiations," to the extent that Ali Larijani, the Speaker of the Islamic Consultative Assembly, described the extension of negotiations as "the most sensible action," and Hamid Rasai, a principlist representative and critic of the eleventh government, stated: "Mr. Rouhani; we consider your success to be the success of the Islamic Republic and your failure to be the failure of the Islamic Republic. No principled critic who cares for the system is happy about your failure." According to this newspaper, Hamid Rasai, who is a critic of the government, particularly regarding nuclear positions, said on Tuesday: "Our criticism was against your optimism towards the West. Our point is that now neither the centrifuges are spinning nor the wheels of factories are turning, which is due to trust in the 'big guy' instead of trusting in the God of the 'big guy'" and now "we thank you for standing firm in Vienna this year after the indefensible retreats from the Geneva agreement." The government-aligned newspaper Iran also reported on its front page about the "long queue of supporters of nuclear negotiations," stating that "high-ranking figures supported the results of the Vienna meeting." According to this newspaper, Ali Larijani, the Speaker of the Assembly, said about the end of the Vienna negotiations: "The extension of negotiations was a wise move," and Mohammad Reza Bahonar, the Deputy Speaker, emphasized that "the system has concluded that continuing negotiations is not problematic." The newspaper Iran also reported that Hassan Firouzabadi, the Chief of Staff of the Armed Forces, stated: "Our beloved president also acts based on the internal power of the nation," and Ali Saidi, the representative of the Supreme Leader in the Islamic Revolutionary Guard Corps, emphasized that "the nuclear negotiating team has adhered to the principles." The newspaper Iran also pointed out the continuation of some opposition to the government, including reactions from the newspapers Vatan-e Emruz and Kayhan in their Tuesday editions, stating: "The newspaper Vatan-e Emruz had chosen the word 'nothing' in large font as its headline, and the newspaper Kayhan described the negotiations as fruitless, evaluating the extension of negotiations as an extension of sanctions." However, the headlines of these two newspapers faced a reaction from Amir Mohibian, a principlist analyst and political activist. This newspaper quoted Amir Mohibian addressing the media close to the principlists, stating: "The Supreme Leader has approved the overall process of negotiations; one cannot be loyal to the leadership and mock the 'children of the revolution' - the negotiating team - and wholeheartedly wish for their failure just to prove that the path of the previous negotiating team or the former president was better." According to the newspaper Iran, Amir Mohibian also stated: "These unfair critics either consider the leadership to be, God forbid, deceived by the new government, which is certainly a distorted perception, or they see him as someone who has put Rouhani and national interests forward to undermine them, which both of these beliefs are inconsistent with justice and loyalty to the leadership." Simultaneously, newspapers such as Kayhan, Javan, Resalat, Hemayat, Quds, Jam-e Jam, and Khorasan in their main headlines quoted Ali Khamenei, the Supreme Leader, stating: "The enemy could not bring Iran to its knees in the nuclear issue." Market Reaction to the Extension of Negotiations; Shift in Dollar, Rising Gold Prices. The newspaper Ebtekar reported on its front page about the "market's reaction to the extension of negotiations" and the "shift in the dollar's direction," noting that its price increased to 3265 tomans. This newspaper stated: "The dollar price, which had been between 3250 and 3265 tomans since November 10, fluctuated between 3250 and 3255 tomans from last Sunday to this Saturday, increased to 3265 tomans on Tuesday." According to the newspaper Ebtekar, "The dollar reached 3265 tomans on the last day of nuclear negotiations, while it had experienced stable and calm days in the past week." Ebtekar also reported on the "increase in gold prices," stating: "Another market that has experienced different days over the past year is the gold market, which, due to the drop in global gold prices, fell from over 1 million 300 thousand tomans to around 900 thousand tomans, and the last round of nuclear negotiations began while the price of the full gold coin was 917 thousand tomans and reached 919 thousand tomans on the last day of negotiations." This newspaper reminded that "the nuclear negotiations between Iran and the 1+5 group ended on Tuesday night in Vienna while the Iranian economic markets were in a special situation and were awaiting positive signals from Vienna." The 5 Trillion Toman Drop in the Stock Market. The newspaper Jahan San'at assessed the stock market's reaction to the end of the Vienna negotiations as a "political reaction," reporting a "5 trillion toman drop in the value of the stock market in one day." This newspaper referred to Tuesday, December 4, as the "black day of the stock market," stating: "The black day of the stock market ended with a drop of 1208 units in the overall index and a 5 trillion toman decrease in transaction value, and as always, the finger of blame was pointed at the emotional behavior of real shareholders." Jahan San'at wrote: "Interestingly, the comments made were also directed solely at real shareholders. In such times, institutional investors, who are among the main and large players in the market, forget their roles in supporting the stock market, just like their executive managers, and blame others for the declines, who do not have a place in times of growth and record positive achievements." This newspaper also quoted Fardin Aghabzorgeh, a stock market expert, stating: "The current conditions in the stock market are completely temporary" because "everyone thought that the suspension and continuation of negotiations would somehow create an understanding for reaching a specific outcome and could help in making negotiations more purposeful, but the increased expectations of activists and the turbulence created by some opportunists on Sunday and Monday caused the outcome of the negotiations on Tuesday not to be favorable for investors, and contrary to reality, some thought that sanctions would be completely lifted." The newspaper Te'adol reported on "the second largest drop in the overall index in 1393" on Tuesday, describing it as the "nuclear collapse of Tehran's stock market." Te'adol wrote: "A faint white smoke resulting from political understanding and the renewed extension of nuclear negotiations rose, but it could not untie the knot of Tehran's stock market; consequently, yesterday, unlike previous days, the stock market saw red in most of its symbols." According to this newspaper, "One day after the negotiations, the overall stock index fell by 1.6% and dropped 1207 units to return to the 74 thousand unit channel, and the major players in the market were in the queue for the most negative impact. The banking, petrochemical, cement, telecommunications, iron ore, investment, and insurance groups, along with investments, had the most negative impact on the index." The newspaper Te'adol noted: "On Tuesday, with the start of the market and from the very beginning of trading, heavy selling queues formed in most companies' stocks, especially banking and automotive companies, so that companies like Iran Khodro, Bank Mellat, Saipa, Bank Tejarat, and Pars Khodro had more than 100 million in selling queues and topped the table." This newspaper pointed out that "the negative atmosphere in Tehran's stock market" was "mainly due to the emotional behavior of shareholders," but noted that this behavior "caused the Tehran stock index to lose more than 800 units of its value by the middle of trading and retreat to the 74 thousand unit threshold. Additionally, the volume of transactions significantly decreased, with 303 million shares traded worth 100 billion by the middle of trading." The newspaper Te'adol reminded that "previously on Farvardin 24, the stock index experienced its largest drop of 1581 units, and Tuesday's drop is considered the second largest drop in the stock index in 1393." This newspaper referred to Tuesday's significant drop as the "nuclear collapse of Tehran's stock market" and emphasized that on Tuesday, "the stock market was entirely in red," pointing to "the heavy share of banks and petrochemicals in the index drop," noting that "on Tuesday, the symbols of Fars, Webmellat, Fmali, Rampana, Vapasar, Websader, and Akhbar had the most negative impact on the stock index, and the volume of transactions decreased compared to the previous day to 174 billion tomans." According to the newspaper Te'adol, "In the over-the-counter market, the index fell by 20 units to 836 units, and shareholders traded 155 million tomans of shares, with Midco, Petrol, Zagros, Jam, Zob, Maroon, and Bampna having the most negative impact on the over-the-counter index. In this market, the maturity of housing purchase loan bonds faced a price drop and was traded or valued in the range of 86 to 87 thousand tomans." This newspaper also noted that "despite the negative trend of the majority of symbols, some companies such as Pars Oil, Pars Ceramics, Niroklar, Keshteh and Industry Paydar, Raw Material and Synthetic Fiber Production, Tehran Renovation and Construction, Tidewater Middle East, Kaveh Paper Industries, Tractor Manufacturing Casting, and Informatics Services experienced the highest price increases." Hamid Reza Tarhami, referred to by the newspaper Te'adol as a "capital market expert," told this newspaper: "The heavy drop in the index was not unexpected because market participants did not have a favorable view regarding the extension of negotiations," and on Tuesday, "the shares that were affected by the agreement turned from buying queues and value growth to selling queues due to the lack of agreement, but this behavior of shareholders is emotional and the conditions will return to normal within a week." This capital market expert also stated: "In the days leading up to the end of the negotiations, due to positive comments from some stock market managers, some inexperienced individuals bought shares without analysis, and now these same individuals are suffering due to the lack of agreement and are again in a selling queue due to emotional behavior. This event shows that stock market managers need to be sufficiently aware of the results of their statements because it can lead to incorrect reactions from inexperienced shareholders and their capital exiting the stock market." Fresh statistics from the spokesperson of the Judicial Commission on "violence against women." The newspaper Shargh highlighted the statements and statistics from the spokesperson of the Judicial Commission of the Islamic Consultative Assembly regarding the extent of violence against women in Iran, quoting Mohammad Ali Esfahani as saying: "In Iran, the mortality rate due to violence among women aged 15 to 44 is equal to the mortality rate due to cancer." According to this newspaper, Mohammad Ali Esfahani, the spokesperson of the Legal and Judicial Commission of the Islamic Consultative Assembly, stated on Tuesday, coinciding with the International Day for the Elimination of Violence Against Women.