First Land & Construction fund establishes on Iran Fara Bourse!
– The inauguration of first Iranian Land and Construction mutual investment fund was carried out today on Iran Fara Bourse. The CEOs of Iran Fara Bourse and Bank Maskan along with minister of urban development attended the ceremony and wished for the new ETF to pool funds needed for capitalization of construction projects.
– “Just shy of 21 out of more than 600 listed companies on Tehran Stock Exchange and Iran Fara Bourse are paying dividends in an automated fashion.” While electronic payments and new solutions have been utilized for quite a time on most modern capital markets, more than IRR 24,000 bn DPS payments are now sitting on companies’ bank accounts simply because the refuse to appoint CSDI as their dividends distributor.
– Metal tickers are still a major part of Iranian Mutual Funds (pure equity, fixed income, balanced and ETFs) portfolio composition. With a total AUM of IRR 1,586,541 bn, near 21% of these funds assets (from the portion dedicated to equities) have been invested in basic metal sector companies. The below chart is for Dec-012-2017 showing the composition of said funds:
Stocks Hit New Records As global markets roars!
In the Market
Equities advanced to new record highs on today’s session, underpinned by hikes in global metals market.
The TEDPIX (+1.42%) and the IFEX (+1.42%) each finished at a new all-time high, starting the week with solid green. The reason behind this astonishing outperforming lies in the advancements of global basic metals over the Iranian weekend. Iran Stock Exchange was still bullish from the previous jumps and new reports of US/China just made the bed for perfect bonfire.
The top-weighted Metals sector (+1.44%), mid-weighted Conglomerates (+4.39%) and Iron Ores (+4.24%) sectors, which comprise more than one-third of the market combined, were among the top-performing groups.
Isfahan Mubaraka Steel (FOLD1, +1.68%, IRR 2,898) changed hands more than 124 mn shares and recorded a cUSD 8 mn trade value for today’s market. Following the advancement of global copper prices, Iran National Copper Industries (MSMI1, +4.97%, IRR 2,197) ended the day with near 30 mn orders left in the buy queue. The newly come steel maker, Kaveh South Kish Steel Co. (KVEH1, 2.75%, IRR 2,610) traded for a block of 69.5 mn shares in TSE whole market on a deal size of cUSD 5.35 mn.
Literally each of 4 tickers listed as Conglomerates ended the day in deep green today. Pension fund investments (SAND1, +4.95%, IRR 1,611) was lead singer of the show with 82 mn traded shares. Ghadir Investment holding (GDIR1, +4.98, IRR 1,328) along with Omid Investment (OIMC1, +4.96%, IRR 2,125) followed the bullish trend as well. The main catalysts behind this move is for the fact that almost all of the mentioned companies have dedicated a fair share of their investment portfolio to commodity based listed shares (specifically Metals and Iron Ores).
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