Employment rate on the rise
On the sidelines of the Forum entitled as “JCPOA Implementation”, held in Tehran, Mr Baqer Nobakht, government’s spokesman noted that labor force participation rate advanced from 38.2% to 37.2% YOY. He also said that this means 882,000 new applicants found the opportunity to fill in the vacancies. That said, the active population of labor force in Iran reached 24,701,000.
149,000 of the entrants were absorbed into the agriculture sector, while services and industrial employed 562,000 and 44,000 of the job seekers, each, Nobakht added. According to the latest figures, published, by the Statistical Center of Iran, rate of unemployment in the third quarter of Iranian year (Sept. 23-Dec. 21, 2015) stood at 10.7%. This figure recorded a 0.2% rise, compared with the same period the year before and a 0.2% drop, in comparison with the second quarter (June 22-September 22). It is noteworthy to say that the unemployment rate was 11.7% and 8.1% for urban areas and rural areas, respectively.
Bond holders to collect $462mn of interest payments
CSDI will clear about $462 million, at official rate, of interest payments to bondholders in Farvardin (first Iranian month, started March 20).
The number of Islamic bonds and Sukuks published and traded on Iran Fara Bourse, coupled with the current ones still transacted, went beyond 60, including different types such as Ijarah, Murabaha, Musharakah and CD, Mr. Shadrouz Khosravi noted, as customer relationship and e-services management executive in CSDI. He continued nine corporate Ijarah Sukuks, five corporate and municipal Musharakahs, and one Murabaha reaching their interest payments and will be fully liquidated till the end of 19th April.
This executive manager also said that 10 companies will pay dividends on their shares through CSDI during this specified time period.
14% Rise in TSE-Listed Firms’ Capital Increases
According to Gholamreza Aboutorabi, head of SEO’s Office for Securities Issuance and Registration, listed companies on TSE raised their capital by 14%, in the previous Persian calendar, ended March 19, 2016, to maintain their long term solvency in their businesses. Permission to raise capital was granted to 150 companies in the mentioned period ; of the total 63%was raised through the sale of new stocks, 18% were funded by retained earnings from prior years and 17% financed through par value of the company’s capital stock. Collectively, companies raised 311 billion rials ($14 million at official exchange rate) of equity in the period.
In the Market
The activity today was mixed, as the overall sentiment in the market was at times negative and at some occasions positive.
In today’s session, TEDPIX dropped 213 points or -0.26% to 80,752. Names such as Saipa, EN Bank and Tamin Investent Co. boosted the Overall Index, while Persian Gulf Petrochemical Industries, MCI and National Copper industries of Iran were among companies, pulling down the benchmark.
Elsewhere, in Fara Bourse, the relevant gauge, IFX, slumped 1.5points or -0.19% to 807.04. Maroon, Middle East Mineral Industries and Kosar Credit Co. were among components edging down the index, whereas Damavand Power House Co. and Isfahan Steel Co. were the ones pulling down OTC market.
Automotive: in spite of weak trades in most of the symbols in the sector, khesapa (Saipa’s Persian ticker) experienced large amount of demand and closed the session with large buy queues of 37.6mn and advanced 4.7%. what was significant in this category was the constant sell-offs in Saipa and this led to trimming gains in other manufacturers in the space to see more and more sell queues.
Cement: This sector started its session, with huge sell-offs in most cement names. Even good names in this space such as Sekhooz and Sehormoz (their Persian ticker names) faced sell queues.
IT: Madaran, Retab and Rekish ended the trading session in the average +4%. They have been witnessing trades in the positive range in the recent days.
Bonds & Sukuks: these securities which belong to debt market of IFB Co. have been good number of buyers to themselves as it seems there is no seller in the market for them and even market makers themselves are holding buy positions themselves, as well. For instance, RYTQ1 called which is an Ijarah Sukuk, is being traded at prices above its par value. This is a security with quarterly coupons of 22% interest rate, now at 1,030,000 rial or $34.
Banking: There was no particular news, surrounding the sector and all the group finished their affair in the negative territory, except for EN Bank and Post Bank.
Insurance: they maintained their positive momentum, following the trades in the day before, ending their action with buy queues. Alborz topped the sector with 18millon shares changing hands, valued at 20bn IRR or $ 661000.
Petrochemicals: the interesting point is that the large Mcap components in this space such as Persian Gulf;-1.56% and Shapdis (Pardis Petrochemical Co.); -0.23% were losing gains while other tickers like Saina;+4.99%, Shetooka (Touka Paint Co.); +3% or Shepars; +0.05% (Pars Oil Co.) were positive and with good volumes of transactions.