Foreign Investments in Iran Capital Market reaches new highs!
– Announcing the IRR 20,000 bn worth of foreign investors trade value in Iran Capital market, the Vice-Chairman International & Foreign Investment Affairs at the Securities and Exchange Organization (SEO) of Iran added that a huge part of this money has entered into Iran’s debt market. Such a statement came after the CEO of the Central Securities Depository of Iran (CSDI) announced the Russian officials’ intention to increase the size of their investment in the market. Taking into account the role JCPOA played in such investments, some analysts name Iran’s membership in IOSCO as a major factor, in addition to the recent growth in major market indices. In this regard, Mr. Bijani, stated that Iran’s becoming a permanent member to this international body within the next months will also multiply such figures; IOSCO will make its decision within the upcoming days.
TEDPIX settles high following the Auto sector news!
In the Market
Despite its rather negative start, names in the Automotive space saw a rise in demand with Iran Khodro Investment Development (GOST1, +4.29%, IRR 2,898) and Iran Khodro (IKCO1, +4.98, IRR 2,920) facing buy queues. IKCO1 was halted due to an upcoming block and then, returned to the market; Samand Investment, on behalf of Negar-e Nasr Company is to divest 15.85% of Iran Khodro’s shares, which has the potential to move the ticker upward, around IRR 3,000. Saipa (SIPA1, +2.51%, IRR 1,061) also ended the day in green with almost 70 mn traded shares. names like Saipa Diesel (SPDZ1, +4.48%, IRR 817), Tolid Mehvar Khodro (TMKH1, +4.36%, IRR 2,230) and Mehvarsazan Iran Khodro (MESI1, +4.53%, IRR 1,871) also hit their highs.
This dragged Saipa Investment (SSAP1, +1.03, IRR 785), which has been recently reopened losing nearly 10%, listed on the Investment group, into the green; the ticker faced more sales pressure the more we approached the session end. However, other symbols like Iranian Investment Development (IRNZ1, +4.88%, IRR 2,364) and Sobhan Investment (SOBZ1, +4.45%, IRR 1,620) hit their highs.
Elsewhere, adjusting its H1 financial statements by 41%, Zagros Petrochemical (PZGZ1, -0.23%, IRR 29,017), in the Chemicals industry, announced to make IRR 5,720 EPS, mostly after the rise in global methanol and us dollar prices, covering 50% in the first half. The ticker came back to the market on Sunday, 2.6% higher; nevertheless, it finished a tick beneath its flat line at the end of today’s session. Other names settled with slim losses as well.
Global prices entering into correction phases multiplied by investors taking profits out of their trades resulted in commodity-based symbols going under sales pressure.
An official in Isfahan Steel Co. (ZOBZ1, +4.46%, IRR 819) has recently mentioned the positive and economical effects PCI will have on the company’s production, which replaces coke with coal. Today, the ticker was highly demanded and faced a heavy buy queue at IRR 823; other symbols, on the other hand, mostly shed their prices.
Irrespective of their weak start, the rumor on the probable +100% adjustment in Lavan Oil Refining (PNLZ1, -1.29%, IRR 13,962), whose ticker was halted in the middle of the session, pushed other symbols upward; Shiraz Oil Refining (PRZZ1, -1.02%, IRR 14,034) was another names halted. At the end, Sepahan Oil (PRZZ1, +4.75%, IRR 11,328) hit its high and others mostly closed above their flat lines.
Out of the equity market, most currencies trading over the counter gained against the IRR following the growth in demand for overseas travel at the end of December; US dollar stood at IRR 42,070 while euro was traded at IRR 50,370.
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