Despite its descending trend in the last 2 years, the capital market appears to experience promising upbeats after the implementation of the JCPOA, having the potential to put an end to the market bearish movement, over which some concerns have been made.
In this regard, several market practitioners believe that after the agreement between Iran and world powers, a systematic risk over the capital market has been removed, which has re-attracted many investors, who have been in-active during the recent years, to the capital market; this has ended in the increase of the value and volume of trades.
As the result, rejecting the bubble growth of the capital market, these experts propose that if Iran reaches its defined 4-6% economic growth, as a macroeconomic factor, in the upcoming year, market prosperity does not seem far-fetched. However, the direct relation between the capital market and commodity prices in global markets has not been ignored.
In addition, stating that feeling the operating effects of JCPOA implementation and sanctions removal on listed companies’ profitability takes time, some capital market experts also assume that unless companies face an increase in their sales volume, they will not gain profit and therefore, a stable growth in share prices cannot be expected
- Bank Mellat has plans to raise its capital by 25% based on its shareholders’ paid-in capitals and retained earnings.
- Esfahan Oil Refining Company has released its EPS prediction for the FY ending 19 March 2016, which demonstrates a 26% decline compared to its previous estimations.
In the Market
Most symbols in the Automotive sector ended in the red and faced sell queues. Saipa Company topped the sector in terms of the highest volume traded after trading more than 376 mn shares and ended with a 30-mn-share buy queue. Iran Khodro Company was also traded positively and faced a buy queue, although it could not keep it; eventually, it ended at the +3% area after trading more than 255 mn shares. Rena Investment Holding Company was also another symbol which ended with a high volume buy queue. On the other hand, Pars Khodro Company and Iran Khodro Diesel plus Zamyad Company were among the negative tickers ending with sell queues.
Except from a few symbols which were traded positively and ended with buy queues, all symbols in the Metals sector ended in the red, facing sell queues. Esfahan’s Mobarake Steel Company was traded at the -4% area and ended with a 3 mn- share sell queue after trading more than 29 mn shares. The National Iranian Copper Industries Company was also traded at the -3% territory. Khuzestan Steel Company and Gazlouleh Company were among those which faced with sell queues. On the other hand, Esfahan Steel Company was highly demanded and faced a buy queue, being traded by more than 186 mn shares.
Despite the fact that most symbols in the Chemicals sector were traded at negative prices, tickers, including Polyacryl Company and Sina Chemical Industries Company faced with buy queues; however, other tickers such as Petrochemical Industries Investment Company and Farabi Petrochemical Company faced with sell queues. Although started in a negative territory, Parsian Oil and Gas Development Company topped the sector in terms of the highest value traded share and despite experiencing a 3% price drop, Iranian Petrochemical Investment Company was crowned as the highest volume traded share after trading more than 12 mn shares.
Finally, except from Tabriz Oil Refining Company, Shiraz Oil Refining Company and Pasargad Oil Company, other symbols in the Oil Products sector ended in the red. Tehran Oil Refining Company, Lavan Oil Refining Company and Behrain Oil Company experienced the most price drop. Being highly demanded in the last 3 trading sessions, Esfahan Oil refining Company was traded at the -4% territory and was halted at the end of the session. In addition, Oil Industry Investment Company topped the sector in terms of the highest volume traded after trading more than 23 mn shares and ended with a 1 mn-share sell queue.
TSE at a Glance
Summary of Trades
TSE’s Top 10 Stocks
TSE Major Sectors’ Daily Performance
Trading Halts and Reopenings
IFB at a Glance
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