Agah Group nominates for FEAS champions league!
Market News
– Tehran Stock Exchange Co. (TSE) has announced Agah Group as its best performing member to Federation of Euro-Asian Stock Exchanges in order to compete in FEAS champions league. Three brokers got nominated for this event (to be held on October 2018) based on their performances according to FEAS standards, including but not limited to, Market Share, Active days and the traded financial instruments diversity.
– In a study carried out by Tehran Chamber of Commerce Industries Mines and Agriculture, a sensitivity analysis has performed on Iranian industrial business to show which one is more exposed (vulnerable) to USD/IRR changes. The results are as follows.
– Continuing the issuance of Islamic Treasury Bills to cover the administrations’ liability according to 2018/19 budget plan, 5 new issues of ITBs worth USD 1.34 bn have been listed on Iran Fara Bourse debt market board ready for their public offering anytime soon. The below image demonstrates the issue details:
– Iran oil exports to China hit a new all-time high during the previous month reached 874K barrels per day. The last record of China oil imports from Iran was for April 2014 with 803K bpd. Stats show that in a period starts from Jan to Aug 2018 China has imported more than 304 mn barrels of crude from Iran which stamped 32.2% in contrast to 2017. This is happening while apparently the US has backed down from its “zeroing Iranian oil sales” plan and is about to give case exemptions to the nation’s oil buyers.
In the Market
Stocks hiked on today’s session, giving the bulls a clean sweep for the week beginning, after the anticipations on a normal economic situation raised amid investors and USD/IRR stabilized its new high strongly. However, today’s trades had a hint of anxiety since almost all sectors ended the day in green. TEDPIX jumped for 1.39% and closed at 139,628.69 just inches away from 140K historical level. IFEX (+2.22%) performed even better and recorded an all-time high of 1,615.06.
Trades were led by giants of Metals (+0.99%) which had a surprisingly strong start right after the bell. Isfahan Mubaraka Steel (FOLD, +1.09%) was on top amid the session, yet the sale pressure added up once some rumours came out on the future of steel and metallic products IME pricing schemes. Apparently, the industry and mines ministry is to release another nonsense directive on the priority of exchange sale commodities.
On the flip side, Oil Products (+2.60%), thanks to a better than expected performance of crude oil in the global markets, rode the market pretty hard and almost all of its components closed the day in deep green. Isfahan Oil Refinery (PNES, +3.84%) was the top performer today with 119.55 positive points stamped on TEDPIX. Tehran Oil Refinery (PTEH, +2.62) was next in line with less traded shares.
Finally, Auto (+3.69%) caught in the middle of the game today and faced a strong demand after mid-session. Banking (+1.43%) was also on the spotlight today with its blue-chip ticker, Mellat Bank (BMLT, +4.11%) left almost 74 mn orders in the buy queue. It seems that small to medium sectors are to benefit from freshly injected money to the capital market.
DISCLAIMER: This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice.
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