Auto sector to boom Tehran Stock Exchange!
– The Auto sector secretary to the board, Ahmad Nemat Bakhsh, reiterate that auto production has been raised more than 40% over the past year. “A golden auto sector would eventually result in to better days for at least 50 other industries on Tehran Stock Exchange” Nemat Bakhsh said. Looking over the last year stats show that the part makers are the ones taking a direct hit from prosperity of the mother industry.
– According to the CBI stats the inflation rate of last Persian year remained single digits and stood on 9%. After 26 years this is the first time for the inflation rate to be under 10% for the whole year. The urban CPI took a hike of 2% over Feb-Mar 2017 contrary to Jan-Feb 2017 and stamped a record of 262.8. Food and Beverages were responsible for 4.9% of the rise.
Tehran Stock Exchange painted Slow Green!
In the Market
The current week’s holidays hiccup fostered some bearish undertones on the whole trades, but investors were largely able to shake off the concerns to start today’s session unscathed. The TEDPIX settled 0.03% higher while the IFEX finished with a loss of -0.25%.
At the top of the day’s sector standings was the Auto space (+0.34%) as the demise of investors bearish look may bring some hope to the industry. Saipa (SIPA1, -1.03%) was on the traders focus today and changed hands for more than 66 mn shares. IKCO was also hot today yet the trading volume could not compete with the age old orange rival.
The Cement (+0.38%), Investments (+0.70%) and Utilities (+0.37) were also settled in positive territory. Large-cap cement names names like Bojnord Cement (SBOJ1, +2.66) and Sepahan Cement (SSEP1, +2.35) underpinned the top-weighted Cement group’s outperformance.
On the flip side, the heavily-weighted Metals sector (-0.32%) settled at the bottom of the day’s leaderboard with National Copper Industries (MSMI1, -0.71%) being on the top. More than 7.5 mn shares of the large cap ticker traded today to make the closing at IRR 1,960.
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