Step by Step to Expand Tehran Stock Exchange!
Stressing on the importance of a diversified derivative market in the country, the CEO of Tehran Stock Exchange referred to the need to training traders followed by building the required infrastructures before introducing new derivatives into the market; as the result, they have adopted a step by step approach to expanding the market.
In today’s session, the 60.72% block of Hepco (Heavy Equipment Production Company) will be traded at the base price for each share (IRR 1,485) in Iran Fara bourse with the total value of IRR 21,070 bn.
In 2016, markets went through better conditions in comparison with the prior year such that among the 99 indices studies, 72 indices (73%) had positive while 27 indices (27%) had negative returns. Totally speaking, exchanges in the America continent posted the highest return while the European ones were among the lowest beneficial ones. All 15 indices of the America continent were green while only 30 indicators, out of 43 European indices, and 29 indices (81%) of the 36 Asian indices were green. In Africa, also, 11 exchanges were studies where only 4 could register positive yields. Out of the 10 highest performing exchanges, 5 belongs to the Latin America: Venezuela placed first (117.3%), Peru placed fourth (58.1%), Bermuda placed 6th (47.5%), Argentina placed 8th (44.9%), and Brazil placed 9th (38.9%); the other 5 exchanges are Egypt placed 2nd (76.2%), Kazakhstan placed 3rd (58.1%), Russia placed 5th (52.2%), Pakistan placed 7th (45.7%) and Hungary placed 10th (33.8%). Posting 29.2% return, Tehran Stock Exchange Index was placed 13th, after Cost Orica and Morocco.
An official in the Train Organization announced that negotiation on a 4 mn euro worth investment with Italy is to be finalized; he added “this direct investment will be done on Qom-Arak-Tehran-Hamedan path as well as on the fast trains”
- In its unaudited report for the FY ended November 20th, Pars Paper Industries Group has materialized IRR 373 EPS, registering a 46% growth compared to the same period last year; the company has covered 100% of its estimates.
In the Market
Considering the reopening of tickers, some of which have been halted for a long time, the market is expected to go through a correction phase; this, however, might close to its end after the Q3 reports are being published.
As the global market started in the new year, it was seen that demand for commodities like steel, iron ore and copper in China has gone up by 0.5%, 0.18% and 1.49%. This dragged tickers in the Metals space up; some like Kimia-ye Zanjan Gostaran Mineral, Asia Zarin Ma’dan closed with buy queues and some like Yazd Alloy Steel Industries (+3.38%), National Iranian Lead and Zinc (+2.28%) and Iran’s Mineral Processing (+2.78%) ended above their flat lines.
The positive news from global markets also pushed companies listed on the Iron Ore industry upwards such that Bafq Mines and Damavand Mineral finished with buy queues and Bama (+2.01%) and Iran Manganese Mines (+1.47%) ended in the green.
With the oil prices hovering around $57 mainly as the results of decisions taken by OPEC members in late 2016, most symbols in the Oil Products industry went through positive trades. Bandar Abbas Oil Refining ticker was finally reopened and surprisingly ended in the red zone; many experts believed that this name had the potential to move the sector.
In comparison with the previous session, a few names in the Chemicals group also started strong; Kharq Petrochemical and Saina Hygienic Industries closed with buy queues. But most names like La’abiran (02.28%), Khorasan Petrochemical (-1.95%) and Pars International Products (-2.04%) ended beneath their flat lines.
The halting of gas import from Turkmenistan has exerted negative effects on Cement companies; in fact, the gas supply for cement plants has been cut to meet household demand. At the end of today session, Fars & Khuzestan Cement (-2.64%), Sepahan Cement (-2.85%), and Kerman Cement (-2.66%) finished in the red. Kurdestan Cement (2.22%) and Qarb Cement (+4.1%) along with Hegmatan Cement (+2.58%) were positively traded.
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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