Iran’s first Fin-Tech VC fund to deploy on Iran Fara Bourse!
– For the first time in Iran Capital Market history, a Fin-Tech based venture capital fund will be launched on Iran Fara Bourse early next month. “Armani” technology development is to attract funds from investors interested in IT toddlers with foreseeable growth potential.
Commercialization of intellectual properties, better capitalization of SMEs, reformation of management structure and optimization of corporate governance are on the priority list of Iran Fara Bourse board of directors which will be integrated by taking steps to develop new financial vehicles.
– Approved by the admissions council, it is now possible for individuals to trade on petrochemical floor of Iran Mercantile Exchange. In line with optimizing market disclosure limits, bringing balance to bid-ask spread and improving the trade quality of chemicals and oil products, retail buyers are now able to make offers on the trading floor
Tehran Stock Exchange continued the yo-yo behavior!
In the Market
The stock market’s recently started yo-yo exercise continued again on today’s session. Just a day after the out of mind and frankly unreasonable late hike in the market the other affair, TEDPIX (-.12%) slid for 101.63 negative points to stand on 81,661.50. IFEX (+0.13%) on the other hand, indebted to its super heavy weight ticker, ended the day in green.
A lack of decision amid investors, in days of cabinet transitions and geopolitical tensions, continued to linger on today’s affair, pulling down the major averages of each sector. The situation over Chemicals (-0.12%) can be taken as a solid fact to this case. After the other day’s massive trades on high limits, almost all tickers lost a minimum of 3-4% towards the market end. Despite their better than expected Q1 reports, the industry was stuck in mud knee deep for weeks. However, it is obvious now that the sector has not what it takes to start a rally yet.
On the flip side, with the late movement of global commodity prices, the Metals sector status is green. The industry giant, Isfahan Mubaraka Steel (FOLD1, +1.01%, IRR 1,796) surprised the investors for the third consecutive days again and stamped a positive point of 34.23 on the index solely. Other leaders shown mix signals and ended the day near their flat lines.
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