- Following the Islamic Treasury Bills offering on 30 September 2015 for the first time and holding the nominal value of $25.68 per bill, a new series of bills (10,000,000 bills) with the ticker Akhza6 went public in Iran Fara Bourse market while their price discovered to be $25.13 with the maturity date on 15 March 2017. With the government acting as the guarantor for such debt securities, their liquidity risk is partly mitigated, having a positive impact on their return rate adjustment. This series has been issued with the aim of settling a part of government’s debt to contractors in the private sector.
- Aiming to upgrade its aging fleet, Iran started entering into agreements with giant aviation companies, mainly Airbus and Boeing, which will be implemented according to the set schedule, said by the minister of Road and Urban Development. Calling it a real test for Iran to finish this deal and work out the financing problem, international experts believe that the agreement between Iran and Boeing has the potential to motivate those international companies which are postponing their trades with Iran mainly due to the fear of being punished by the US government for violating any probable remaining sanction. Because of the current limitations, including not being allowed to use US dollar, other interested parties are keeping an eye on this agreement to find out ways to overcome such a hurdle.
- On the sidelines of the International Financial Congress in Saint Petersburg, the deputy governor of the Bank of Russia announced that some Russian banks are prepared to renew their brokerage ties with Iran, praising measures Iran took towards harmonizing its structure with international standards and regulations. In this congress, with the deputy governor of the Central Bank of Iran present, both sides stressed the need for strengthening banking relations between Iran and Moscow which might lead to an increase in the volume of trades between the two countries. In this regard, it has been accorded to set a committee and a technical team to identify the current obstacles ahead of forming such ties and activate the mechanisms required for providing credit lines between these two countries as well.
In the Market
Negative trades were seen among most tickers in the Automotive space. Saipa Group (Khesapa) faced a buy queue at the early minutes of the session; however, more sales were seen during the session and it eventually ended in the +0% area and also topped the sector in terms of the highest value traded (more than 260 mn shares). Zamyad Company (Khezamya) also shed 3% and eventually closed with a sell queue. Despite starting the session in the green and at its high, Saipa Azin Group (Khazin) closed its last deal at -2% zone. Symbols such as Iran Khodro Diesel Company (Khavar), Iran Khodro Company (Khodro), and Saipa Diesel Company (Khekave) finished with sell queues, mainly since Khesapa, as the market leader, shed its price.
Most names in the Metals group ended above their flat lines. After more than 27 mn shares traded, Esfahan’s Mobarake Steel Company (Foolad) topped the space in terms of the highest volume traded and ended in the +0% zone; more than 87% of buyers were among institutional investors. More than 15 mn shares of the National Iranian Copper Industries Company (Fameli) changed hands, 14 mn of which were traded by institutional shareholders; 270 mn of this share were block traded in the retail market and it finally gained 1% in its final price. Hormozgan-e Jonoub Steel Company (Hormoz) also went up 4% and eventually closed with a 1 mn share buy queue; according to the company officials, the company’s geographical location allows it to easily access regional and global markets and despite the meltdown in global markets, the steel consumption market in the region and nations near the Persian Gulf have continued their activities, which is an advantage for Iranian companies in this field.
Symbols such as Bama Company (Kama) and Bafq Mines (Kebafq) in the Iron Ores industry continued their positive movements. However, Saba Noor Industrial and Mining Development Company’s (Kenoor) ascending trend stopped and it faced a sell queue. Being reopened in the previous session, Iran Manganese Mines (Kemanganese) also finished with a sell queue.
Low volume trades were observed among tickers in the Banking group; only a few names, including Kosar Credit and Finance Company (Vakosar) and Bank Sarmaye (Samaye) ended in the green. Although, positive ranges were seen in Bank Gardeshgari (Tourism) by institutional investors at the early minutes of the session, too. Besides, 27 mn shares of Vakosar and 50 mn shares of Bank Saderat (Vabesader) were also block traded in the retail market.
Eventually, except a few names such as Sepahan Oil Company (Shespa) and Iranol Oil Company (Sheranol), most symbols in the Oil Products group were positively traded. Following its descending trend from the previous session, Bandar Abbas Oil Refining Company (Shebandar) started in the red but finally, rose 1% after trades worth $0.57 mn were conducted mainly by individual shareholders; it also topped the industry in terms of the highest value traded. In addition, Esfahan Oil Refining Company (Shepna) started the session at the 0% area and among its 6 mn traded shares, about 4 mn were block traded at the early minutes of the session; it eventually grew 2% and was titled as the highest volume traded share.
TSE at a Glance
Summary of Trades
Major Sectors’ Daily Performance
Trading Halts and Reopenings
IFB at a Glance
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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