Justice shares to release for trades on Tehran Stock Exchange!
– Head of the Economic Commission of the Iranian parliament announced the bill releasing justice shares for trades on Tehran Stock Exchange will be notified on the next public hearing of Majlis anytime soon. “We are against distributing earnings of justice shares and principal asset along with the equity ownership shall be in hands of shareholders themselves” Said Pourebrahimi on a radio interview.
– As of today only 21 tickers left halted on Tehran Stock Exchange. The tickers of Saman Gostar Isfahan (SGOS1), Osveh Phramachetical (DOSE1), Iran Poly Acryl (PLAK1), Azar Refractories (NSAZ1) and Hamdedan Glass (SHMD1) are waiting for their general assemblies (GA). Fiber intermediate products company (MAVA1) has an EPS adjustment and Takseram Tile (TKSM1) is halted for its more than 20% movements in five consecutive days. 13 tickers of Iran Counter (CONT1), Persian Gulf international transportation (HFRS1), Azarab Industries (AZAB1), Hafez tile and ceramic (KHFZ1), Casting Gravel (TAMI1), Hiweb (HWEB1), Saderat Bank (BSDR1), Insurance industry investment (BIME1), Parsian bank (BPAR1), Pasargad Bank (BPAS1), Post bank (BPST1), Teharat bank (BTEJ1) and Niroo Investment (SNRO1) are considered as suspended for ambiguities in their information disclosure.
Better than Expected!
In the Market
Equities notched new highs yet again on today’s session, ending the first day of week better than expected. The TEDPIX climbed +0.36% and the IFEX rose 0.77%. All three major Tehran Stock Exchange indices finished above their flat lines in an attempt to save some of the losses from previous week. Despite the low trading value and volume, it is expected for the market to continue its bullish trend until the year end. The companies Q3 performance reports are to be out one by one these days which will add the pace of green movement in the market.
The top-weighted Metals sector (+0.48%) led today’s rally, moving into the top spot on the 2018 leaderboard. Within the group, Isfahan Steel Co. (FOLD1, +0.37, IRR 2,945), National Copper Industries (MSMI1, +0.84, IRR 2,519) and Calcimine (KSIM1, +4.90, IRR 5,712) gained some of their later losses adding between 0.30 and 5%%.
The Oil products (+1.17%), Chemicals (+0.42) and Auto (+1.36%) sectors also had solid showings. Investors are to receive the companies’ Q3 performance reports and it is expected for their earnings to increase on average. Most of the analysts believe that the market will hit its all time record high by the end of the year.
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