- Referring to the two constituents of the capital market as the equity and debt markets, the CEO of Iran Farabourse believes that the bank interest rate reduction may positively and directly affect the market. Mr. Hamooni holds the idea that it not only increases demand in the debt market, it will also move people towards investing in equities. Interest lowering can also raise companies’ interest in the capital market and different financing instruments, since many economic plans will become economically justifiable with lower interest rates.
- Iranian officials have confirmed the resumption of Iranian crude sales to Royal Dutch Shell Oil Industry Company. Emphasizing that only one oil shipment has been sold to this company in the post sanctions era, they have stated that negotiations are underway to ink long term deals.
- Calling the capital market the mirror image of the economy performance, market analysts believe that the stock market will start its growth following the country’s economy recovery, mainly due to the anticipated developments in the post-sanctions era. In this regard, they stress the importance of fundamental analyses which can hinder investors from emotional trading.
In the Market
Most companies in the Automotive space ended beneath their flat lines. Leading the sector in terms of the highest volume traded, Saipa Group (Khesapa) shed 4% in its final price. Zamyad Company (Khezamya) hit its low and was also about to face a sell queue; more than 76 mn of its shares changed hand. Saipa Azin Company (Khazin), Rena Investment Company (Varena), Pars Khodro Company (Khepars) and Saipa Diesel Company (Khekave) faced sell queues. Iran Khodro Company (Khodro) also went through negative trades and shed 4% in its price. As the CEO of Saipa Group announced, the divestiture of 50% of Saipa Kashan Company’s share to the French Company, Citroen, is the company’s main plan in the current year.
Most names in the Metals sector ended in the red. After trading more than 16 mn shares, Esfahan’s Mobarake Steel Company (Foolad) topped the space in terms of the highest volume traded and ended with a 4% fall in its final price; besides, 35 mn shares of this company were also block traded in the retail market by institutional investors. Esfahan Steel Company (Zob) followed a descending trend and after more than 16 mn shares traded, it finished with a heavy sell queue. Arfa’ Metal and Steel Company (Arfa’) also faced a sell queue. It was so while Calsimin Company (Fasmin) and Alum Rad Company (Famorad) gained 2% in their final prices.
A majority of names in the Chemicals industry were negatively traded. More than 5 mn shares of Parsian Oil and Gas Development Company (Parsan) changed hands with 95% individual investors as sellers, topping the space in terms of the highest volume traded; it eventually shed 4.5% and ended with a slim sell queue. 15 mn shares of Persian Gulf Petrochemical Industries Company (Fars) were block traded in the retail market. Farabi Petrochemical Company (Shefara) and Pars International Products Company (Shepars) closed with slim buy queues with rather no movement among institutional investors. Kharq Petrochemical Company (Shekharg) also went through trades worth $1.68 mn; about 4 mn of the traded shares were block traded at the final minutes of the session and it eventually grew up by 1%, leading the space in terms of the highest value traded.
Finally, among tickers in the Oil Products group, Sepahan Oil Company (Shesepa) was the only one ending in the green. After trades worth more than $0.95 mn, Bandar Abbas Oil Refining Company (Shebandar) fell 4.5% and closed with a sell queue; it was titled as the highest volume traded. Despite starting the session in a positive area, more than 11 mn shares of Oil Industry Investment Company (Vanaft) changed hands among individual investors; the respective share also ended in the -0% zone and was placed after Shebandar.
TSE at a Glance
Summary of Trades
Market’s Top 5 Stocks
Market Major Sectors’ Daily Performance
Trading Halts and Reopenings
IFB at a Glance
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