- Iranian Social Security Organization (ISSO) is the largest non-governmental social insurer organization in Iran, providing wage-earners and salaried workers insurance coverage alongside voluntary coverage of self-employed persons. ISSO is financed by premiums paid by the employers and contributions by the government. The organization’s deputy managing director, Dr. Reza Raee, signed an MOU with Dr. Qalibaf, Tehran Stock Exchange’s president, regarding mutual cooperation in different aspects, meant to last for 3 years. Different goals have been described as the backbone to this agreement, the most important could be highlighted as: creating the executive infrastructure for facilitating the admission and listing of ISSO’s subsidiaries on TSE, assisting ISSO in employing the 22 regional trading floors across the country, holding specialized seminars and educational workshops to promote financial knowledge, developing acquaintance with capital market laws, working out the threats and opportunities of entering domestic and international stock markets, smoothing interaction with active foreign financial entities and investors for the organization, helping with fund raising process via issuing securities in the exchange market among the major goals behind this memorandum of understanding. In addition, designing construction funds and repayment of government debts to ISSO through debt securities are among other subjects, endorsed in the MOU.
In the Market
At first, high volume trades were conducted among tickers of the Automotive sector and nearly all ended in the green. Being reopened with a 1 bn-share buy queue, Saipa Company maintained its crowded buy queue; however, it ended with a more than 618-mn-share buy queue. Besides, being warmly welcomed by investors, Iran Khodro Diesel topped the sector in terms of the highest volume traded after trading more than 180 mn shares.
Most symbols in the Metals sector were traded positively and faced buy queues. News has been heard on the merging of steel companies in the Persian Gulf area which is a huge step in reaching Iran’s steel Industry export.
Most tickers in the Chemical sector ended in the green; Sina Chemical Industries Company was the only ticker ending the session with a low-volume buy queue and Farabi Chemical Company was the only one facing a sell queue. Besides, Parsian Oil and Gas Development Company topped the sector in terms of the traded volume after trading more than 47 mn shares.
Finally, except from Sepahan Oil Company, all symbols in the Oil Products sector were positively traded. Leading the sector, Bandar Abbas Oil Refining Company experienced a 4% price growth and faced buy queues during the session. Tabriz Oil Refining Company also ended with w 7-mn-share buy queue.
TSE at a Glance
Summary of Trades
TSE’s Top 10 Stocks
TSE Major Sectors’ Daily Performance
Trading Halts and Reopenings
IFB at a Glance
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