Algo Trades to be on Tehran Stock Exchange!

Market News

– “Iran Capital Markets are to be soon revolutionized by algorithmic trading schemes” Said Tehran Stock Exchange deputy manager, Ahmad Araghchi. Securities & Exchange Organization puts it’s back to develop new trading methods matching what is considered to be world class standards. Acquiring all the required licenses along with establishing proper IT grounds, Tehran Stock Exchange will welcome all the participants whom can be of any aid to this process. It seems that Iranian Markets shall be pushed over to promote financial knowledge of modeling after all meeting the fundamental needs of algo trades.

– In the keynote speech of the first International Financing opportunities conference held the other day at Espinas Hotel, the CEO of TSE company, Mohammad Baqer Qalibaf, stated that the number of foreign trading codes on Tehran Stock Exchange now reached to 800 of which 140 codes are belonging to Institutions and investment funds. According to his speech, 12 memorandums of understanding have been signed so far with foreign exchanges worldwide and the number will increase in the new Persian year.

A new rave with a taste of Auto!

In the Market

There was a lot to talk about on today’s session, but the market was not sure what to make of it all, as some stocks slipped out of the gate, yet others raved through new record highs. The TEDPIX settled with a narrow gain (+0.07%) and stood on 77,860.40.

Today’s market was mostly driven by Auto trades. With all the technical charts showing the end of a year long correction, it seems the sector is to jump high and can be considered for short term swings. Named the most traded shares with highest traded value, Saipa (SIPA1, +3.79%) again proved that it has all takes to be a good market leader. Almost 130 mn shares changed hands and left a rough order of 10 mn in the buy queue. It is safe to say that all the sector participant followed the trend as well.

Persian Gulf Petrochemical (PKLJ1, -1.34%, IRR 4,190) navigated a 68.27 point range on the index, closing near the middle amid losses in late hours. Other chemicals showed mixed signals throughout the session some ended in green yet others closed the day in red. The three names advanced between 0.68% and 4.99% on the last trade price were Saina (SYNZ1, +0.68%), Sepehan Tooka Color (TPSZ1, +1.93%) and Paksan (PAKS1, +4.99%) respectively.

Other sectors were mostly traded on a range bound pattern with no vivid direction whatsoever. It seems that with presidential campaigns approaching, the market is to be smooth and green for a while at least until after the election.

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