Iran Fara Bourse report card – Daily Market News
Iran Fara Bourse ended Aban (Oct-Nov) posting a 1% increase hosting events like the separation of IFB trading core from that of the TSE, the 10th phase of T-Bills release as well as the transferring of “Tehran Oil Refining” and “Systems Group” tickers from IFB to the TSE. The ups and downs in the trading volume eventually ended in the 9-point rise in the IFB index equal to 1% with a 53% growth in the trading volume as well as a 25% increase in the trading value compared to the previous month, registering a 3.4% increase from the beginning of the year. It is worth mentioning that the TSE overall index has experienced a 1.2% decline in the same period.
Investigating the IFB performance over this period after 6,516,468,000 securities changed hand worth $1,196 mn, a 103% growth has been registered in trading value and a 94% rise in the trading volume, compared to the same period last year. Taking into consideration the performance of first and second markets in IFB, it is realized that more than 2.5 bn securities worth $209.19 mn were traded in the first market demonstrating a 237% increase in the value and 140% rise in the volume of trades; the second market also went through a 6% and 14% growth in the volume and value of trades with more than 2 bn securities changing hands. It is worth stating that the Base market as well as the New Modern Financial Instruments market also registered new tracks, including the 57% and 41% rise in the volume and value of trades in the former and the 44% and 7% increase in the volume and value of trades in the latter.
Based on the statistics, the Metals industry outperformed in the IFB during Aban allocating 21% of total trading value; the second and third places went to the Oil Products and Transportation sectors with 12% and 10%, respectively.
In the Market
Companies in the Automotive space are still moving in the red zone; the issues about JCPOA as well as dollar price hike seem to be negatively affecting the names. Being the first of its kind, Saips Group is to increase its capital based on its brand value.
In line with the global oil price rise as well as the hope over OPEC act on reducing production, names in the Oil Products space mostly ended in the green, led by Tabriz Oil Refining with trades worth $0.47 mn.
Most tickers in the Cement industry faced sell queues, being in the correction phase. However, Sofian Cement, Bojnourd Cement as well as the Right of “East Cement” closed with buy queues.
After the recent hike in zinc price, the related companies in the Iron Ore space are positively adjusting their estimations; Bafq Mines, basing its budget on the zinc price of $2,100, has increased its EPS by 93% in its Q2 financial report. Besides, according to experts, Kama Company has $0.03 retained earnings per share and is able to make $0.02 EPS for the FY ending 19 March 2017; if the zinc price does not go below $2,300, it will be able to make more than $0.03 EPS, which can push the share price higher than $0.27.
It has been heard that the 322% capital raise of Esfahan Steel in the Metals group is about to be final, receiving its permission from the SEO; it is worth mentioning that the company is going through some positive fundamental changes, too. Besides, as was said above, other companies such as Calcimine, which had considered zinc price in its first budget to hover around $1,900, are expected to gain more.
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