- Following Islamic Treasury Bills offering on 30 September, 2015 for the first time, a new series of these Bills, with the ticker Akhza3, went public in Iran Fara Bourse stock market in the previous day, paving the way for the development of debt market. Holding the nominal value of $27.5 per bill, they were issued at $275.71 mn worth, with $23.49 price discovery and maturity date on 12 October 2016. As to this fresh offering is the presence of foreign investors along with domestic participants among the buyers, owing to the government’s guarantee for such debt securities. Thanks to capital injection into such trades, their liquidity risk is partly mitigated, having positive impact on their return rate adjustment. In the coming business days, other portions of ITBs will be published; this, itself, indicates the determination to expand debt market among regulators and decision-makers in the country. This event was also concurrent with the government’s determination to settle a significant portion of its aggregated defaulted debt until the end of 2017, mainly through using debt finance tools, i.e. Ijara Sukuks, Settlement Bonds, and Treasury Bills. Experts in the field believe that settling the government’s debt amid this market has other positive consequences for the economy, including the formation of the debt market and deepening of the capital market.
- According to the Chairman of the Iranian Mines and Mining Industries Development and Renovation Organization (also known as IMIDRO), defining foreign investment packages, also including the establishment of joint companies in the field of mining and mining industries, worth $10 bn for 3 countries is under process.
- Calling Iran as a country with a huge investment potential, the International Finance Corporation’s (IFC) officials have expressed hopes to invest in Iran’s power sector in the next year.
In the Market
Most tickers in the Automotive sector faced price hike. Being reopened, Rena Investment Company was warmly welcomed by investors and after trading more than 271 mn shares, it was crowned as the highest volume traded share. However, Iran Khodro Diesel Company ended in the -0 area after trading more than 108 mn shares.
Many symbols in the Chemicals sector were traded positively. Tickers, including Sina Chemical Industries Company and Pakshoo Industrial Group faced low-volume buy queues. After trades worthy of $1.30 mn and a 5% growth, Iran Chemical Industries Company topped the sector in terms of the highest value traded share.
Most symbols in the Oil Products sector experienced demand increase and positive trades such that all tickers, except from Pars Oil Company and Oil Industry Investment Company, faced high volume buy queues. However, the Oil Industry Investment Company topped the sector in terms of the highest volume, after trading more than 19 mn shares at -4%.
Most tickers in the Investment sector attracted investors’ attention and experienced price hike. After trading 122 mn shares, Saipa Investment Company topped the sector in terms of the highest volume traded; besides, Mellat Investment Company faced a buy queue. However, after being initially offered about a week ago, Sobhan Investment Company ended in the red.
Finally, a positive trend was seen among most symbols of the Metals sector. Starting its trades with a buy queue, Esfahan’s Mobarake Steel Company ended with a 71 mn share buy queue after trading more than 200 mn shares. Esfahan Steel Company and Gaslouleh Company were also among those which faced buy queues. On the other hand, Khorasan Steel Company and Amir Kabir Kashan Steel Company ended with sell- queues.
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
DISCLAIMER: This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice.
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