Last Trading Session in 2016/17
Today is the last trading session in 2016/17; this trading year comes to end while the market witnessed many ups and downs. The signing of JCPOA at the end of 2015/16 made market practitioners expect a different market in the next year, which was not eventually realized and the market ended registering a 4.3% loss for shareholders. In fact, the Tehran Stock Exchange was dealing with recession influenced by different economic, political and international factors.
Taking the current situation, both domestic and international, into account, there are many other factors which might determine the market future path in 2017/18, the most important of which is the Presidential election, fluctuations in global markets along with US dollar price. Taking all that has happened into account, experts gave a good mark to the 11th administration’ economic activities, especially referring to the improvements made in relation between Iran and the international arena, which has pushed many economic risks away the market.
- Holding IRR 33,180,587 mn in capital, Esfahan Steel has released its estimates for the FY ending 19 March 2018, which is IRR 35 loss per share; this amount registers a 3% decline compared to that of the previous year.
- According to an official in the Securities and Exchange Organization of Iran, the permission to raise capital for Pars Minoo Industrial (100% based on retained earnings), Behshahr Industries Development (17.5% based on claims due and paid-in capital), Nasir Machine Engineering (46% based on retained earnings and paid-in capital, Sarcheshme Copper Investment (25%), Fan ava Group and Zarin Ma’dan Asia have been issued.
- With IRR 57,800,000 mn in capital, Bank Saderat has estimated to realize IRR 309 loss per share for the FY ended 20 March 2017; negatively adjusting its EPS by 16%, the bank has covered 154%, equal to IRR 476 during the 6 month period.
In the Market
The whole market went through positive trades with the overall index going up by 492 points. Nearly all tickers in the Construction group witnessed good gains and some like Iran Construction Investment, Tous Gostar Urban Development and Tehran Construction and Renovation went up nearly by 4%. As has been said before, technical analysts believe that this group has finished their correction phase and must start a sharp growth soon.
The same positive trades were observed among tickers in the Cement industry with Hormozgan Cement, Darab Cement, Qarb Cement, Qaen Cement, Bojnourd Cement and Shomal Cement closing with buy queues.
All symbols in the Non-Metallic Ores space, but Marjan Kar Business and Production and Iran Glass Wool, ended above their flat lines with Pars Ceram and Ardakan Industrial Ceramics closing with buy queues.
Such a positive trend was also seen among companies listed on Chemicals sector. Polyacryl faced a buy queue at IRR 497. Abadan Petrochemical, Pars International Products and Saina Hygienic Industries also closed in the +4% zone with buy queues.
The majority of tickers in the Automotive space also ended in the green with many spare part mfg. companies going up like Electric Khodro Sharq and Iran Tractor Forging. Saipa Azin (+3.98%), Zamyad (+1.28%), Saipa Diesel (+2.3%) and Bahman Group (+1.66%) were other names ending in the green. Iran Tractor Motorsazan and Charkheshgar closed in the -4.91% and -3.16% zone, respectively.
The majority of names in the Metals industry closed with buy queues, headed by National Iranian Copper Industries (+3.08%). Shahid Bahonar Copper, Calsimine, Middle East Mining Industries, Iran Mineral Processing, Sepanta and Kimiay-e Zanjan Gostaran Mineral closed with buy queues.
The majority of tickers in the Oil Products industry ended above their flat lines with Tabriz Oil Refining, Pasargad Oil and Shiraz Oil Refining closing with buy queues. Esfahan Oil Refining (-1.62%), Tehran Oil Refining (-0.17%) and Sepahan Oil (-0.08%), on the other hand, closed in the red.
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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