- Industries to warm up!
Spring stats on 32 chosen industrial products, showing a growth rate of 60% in 19 items while a drop for the rest. It proves that finally there is an end to depression over the sector. Lower oil prices, reduction in government revenues and lack of demand in the market were to blame for the unprecedented downturn of recent years. In case of a reform in structures, lifting of the barriers and non-inflationary exit from recession it would lead to a way out of the current negative status.
- Now it’s time to go deep!
According to analysts and portfolio managers, current stock prices look attractive to buyers. Increasing daily trade volume and value brought hope amid participants and promised golden days of the market are near ahead. Experts believes that the cutting interest rates is there first to be thankful for, made the investors unwilling towards other parallel markets. Looks like the Dr. Rohani’s administration financial plans are going to be paid off finally.
In the Market
TEDPIX Notch New Highs after market liquidity rise!
The stock market ended the session on a higher note as the positive readings of new injected liquidity remains amid the investors. TSE main index rose 379.72 points (0.48%) and stood on 78,704.60. The upbeat new capital inflow by institutional participants diminished on-going concerns regarding the strength of the market.
Tamin Petrochemical was the frontrunner of today’s spike and stamped 90.55 points on TEDPIX. More than 7mn shares of “PTAP1” were traded and made the ticker closing at IRR 2,062 (+4.35%). Rather moderate trades were dominant amid the rest of sector’s players.
The conglomerates demonstrated broad-based strength as the major players outperformed on Sunday affair. Omid investment was the leader, advanced about 4% on closing. More than 12mn shares of Tose-e-Melli investment traded today and the ticker closed at IRR 2,077. Pension fund investment was the sole looser of the sector with disappointing traded volume and weaker than expected financials.
Finally the metal sector was not able to extend its advance through the session, shrugging off potential headwinds from a weakness in oil futures and global metal prices. The major steel producers lost big as was the case for Isfahan Mubaraka Steel with near 53 mn traded shares (-1.69%). Calsimin and national lead and Zinc industries followed the trend.
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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