- The governor of the Central Bank of Iran, Valiollah Seif was appointed as the chairman of the international financial body for 2017 and the deputy chairman for 2016 by the Council of the Islamic Financial Services Board during the 27th meeting held in Jeddah on Tuesday. Being an international standard setting organization promoting and enhancing the stability of Islamic services industry through issuing standards and principles, IFSB conducts research and organizes seminars and conferences for regulators in the banking, capital market and insurance sectors.
- According to the deputy foreign minister, Iran will take action against the bill recently passed by US House of Representatives after the Nov. 13 attacks in Paris regarding applying modifications to the Visa Waiver Program (VWP); such modifications will restrict travelling to the US for those who had been previously allowed to enter the country without obtaining a visa. Majlis National Security and Foreign Policy Commission members have taken a critical position against this move, declaring that the 14th July agreement bounds President Obama to block such hostile moves against Iran. Such an approach by the US representative has also been severely criticized by the Iranian users of social media, addressing the Persian-Language spokesperson for the US Department of State to inform the top US administration officials.
- In its first prediction for the FY ending 20 December 2016, Dr. Abidi Pharmaceutical Laboratories has estimated to recognize a $0.01 EPS, demonstrating 4% rise compared to the amount made the same period last year.
- In its first prediction for the FY ending 20 December 2016, Iranian Insurance Company has estimated to make a $0.01 EPS, which shows a 13% increase, compared to its EPS for the same period last year.
- Iran Arqam Company has registered its capital raise plan from $11.01 mn to $13.78 mn on 13 December 2015, relying on its claims due and investors’ paid in capital.
- Holding $22.05 mn in capital, Cultural Heritage Investment Group has predicted to recognize a $0.03 EPS for the FY ending 20 December 2016, showing a 28% decline.
In the Market
As the bearish market digs deeper, more speculative pressures were seen on the Sugar sector. Shirvan, Quchan & Bojnourd Sugar Company was crowned as the highest volume traded symbol in this sector; however, although most tickers experienced a price hike, Shirin Sugar Company and Sabet Khorasan Sugar Company ended in the red.
At the end of today’s trading session, high volume and value trades were seen in the Banking, Automotive and Transportation sectors and most symbols in the mentioned industries ended in the green. These three sectors will be the direct recipients of sanctions removal.
Unfortunately, despite no positive reaction to the anticipated lifting of sanctions yet, the market seems to be more influenced by the oil price fall in global markets, which has blurred its prospect. As the result of more oil price drop, petrochemical products’ prices declined; therefore, negative trades were witnessed in the Chemicals sector. Most tickers ended in the red; however Maroon Petrochemical Company and Iranian Petrochemical Investment Group Company were of the exceptions. In fact despite its strong potential, this sector is considered very risky.
Finally, tickers in the Cement sector continued their passiveness, observed in the recent months; the housing market is down and due to low demand levels, most tickers ended in the red. However, Kerman Cement Company is among the rare symbols in this sector releasing healthy financial reports and considering its EPS, enjoying a reasonable P/E ratio.
TSE at a Glance[caption id="attachment_5385" align="aligncenter" width="878"] TSE at a Glance[/caption]
Summary of Trades[caption id="attachment_5386" align="aligncenter" width="866"] Summary of Trades[/caption]
TSE Top 10 Stocks[caption id="attachment_5387" align="aligncenter" width="1148"] TSE Top 10 Stocks[/caption]
TSE Major Sectors’ Daily Performance[caption id="attachment_5388" align="aligncenter" width="568"] TSE Major Sectors’ Daily Performance[/caption]
Trading Halts and Reopenings[caption id="attachment_5389" align="aligncenter" width="851"] Trading Halts and Reopenings[/caption]
IFB at a Glance[caption id="attachment_5390" align="aligncenter" width="733"] IFB at a Glance[/caption]
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.
To contact reporters: Mojde Rezaee at email@example.com