- According to the Italian Minister of Infrastructure and Transportation, Shahid Rajaee port will turn into a hub to export Italian goods to the Middle East. Interested in supplementing ports’ infrastructures, he also expressed hopes over renewing Iran’s airports and railroad system.
- In a meeting hosting the CEO of Iran Mercantile Exchange among the other economic practitioners, Mr. Soltaninejad stated suppliers’ interest in financing through the capital market. Announcing the welcoming of standard parallel forwards contract SALAM by investors, he also referred to the significant role of IME, brokerage houses, and funding companies played to accomplish the government’s goals of financing through the capital market.
- Discussing how to develop an Islamic mutual fund and Sukuk market, the CEO of Iran Fara Bourse has announced the upcoming cooperation between IFB and Luxembourg Stock Exchange in the post sanction era aiming at attracting foreign investment.
In the Market
Although experiencing stock sales by institutional investors, tickers in the Banking sector attracted individual investors’ attention. Bank Mellat topped the sector in terms of the highest traded volume while Bank Parsian, Bank Eqesad Novin and Kosar Financial & Credit Institute were those which ended in the red. Regarding the news in this sector, the Council of Money and Credit has confirmed banks’ agreement to lower interest rates from 20 to 18%.
All tickers in the Transportation sector witnessed negative trades and they ended with sell queues. Sina Port and Maritime Services Development Company was the only ticker which experienced positive trades after announcing its 395% capital raise based on its claims due and investors’ paid in capital. More than 7 mn shares of IRI Shipping Lines Company were traded and despite its 5% drop and 3 mn-share sell queue, it topped the sector in terms of the highest volume traded.
Most symbols in the Automotive sector were traded negatively and ended with sell queues. After trading more than 576 mn shares, Saipa Company ended with a 26 mn-share buy queue and was crowned as the highest volume traded share. Furthermore, Iran Khodro Company ended with a 28 mn-share sell queue after trading more than 116 shares.
Most symbols in the Chemicals sector were negatively traded, although symbols such as Polyacryl Company, Pars International Products Company and Sina Petrochemical Industries Company faced with buy queues. In addition, experiencing a 3.5% fall, Iranian Petrochemical Investment Group topped the sector in terms of the highest volume traded share.
Finally, all tickers, except from Pasargad Oil Company and Behran Oil Company, in the Oil Products sector ended in the red. Symbols, including Tabriz Oil Refining Company, Tehran Oil Refining Company and Esfahan Oil Refining Company ended with sell queues. Starting the current trading session in negative areas, Bandar Abbas Oil Refining Company was titled as the highest volume traded share. Esfahan Oil Refining Company also dropped 3% after rather high volume trades while Oil Industry Investment Company ended with a balanced final priced, irrespective of starting the session in the red zone.
TSE at a Glance
Summary of Trades
TSE Major Sectors’ Daily Performance
Trading Halts and Reopenings
IFB at a Glance
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