Tehran Stock Exchange over April-May 2017!
According to the latest reports by the Securities and Exchange organization, the total market cap of Tehran Stock Exchange and Iran Fara Bourse issuers break the cap of USD 88 bn over the April-May of 2017. The average P/E ratio of the market is now hovers around 6.96. The top 10 companies with highest market cap are:
- Persian Gulf Petrochemical: USD 5,957 nm
- MCI: USD 3,837 mn
- TCI: USD 3,518 mn
- Isfahan Mubaraka Steel: USD 2,709 mn
- National Copper Industries: USD 2,578 mn
- Jam Petrochemical: USD 2,399 mn
- MAPNA Group: USD 2,200 mn
- Tamin Petrochemical: USD 2,179 mn
- Ghadir Investment: USD 2,137 mn
- Bandar Abbas Oil Refinery: USD 1,911 mn
Amid all the listed tickers on Tehran Stock Excgange of Iran Fara Bourse, the P/E ratio of 84 is over 20, 70 of them have this ratio between 10 to 20 and for the rest the price to earnings are below 10. 23 of listed companies also made loss on their financials and have the negative P/E.
Equities hiked Ahead of Presidential election
In the Market
It is now the routine in Tehran Stock Exchange to be deep in green just before the presidential elections. The factor weighed on investors’ sentiment on today’s session. However, a batch of positive earnings reports and an update on companies financials acted as the catalyst as well. The TEDPIX finished with a narrow win of 0.11% while the IFEX (-0.59%) finished a bit under its flat line.
Today’s race was mostly fueled auto engines. Almost all the tickers in the sector were deep in green early hours, however, closing to the end the sale pressure added up and the giants closed with a narrow loss on the last trade price. Analysts believed that the industry is on the verge of a super important support line technically. Dragging along the auto, most of the shares in leasing space were also ended the day green. The move in automotive sector heralds that it now has the potential to become the market leader once again.
Indebted to better than expected financials and estimates, Mines and Metals sectors were attractive in the investors eyes. Zangan Zinc Industries (ZAGZ1, +0.79%), Iran Mineral Processing (FRVR1, +4.15%) and Iran Pipe Manufacturing (LMIR1, +4.99%) were on the top of the pyramid. On the other side of the board, the situation over Iron Ores were somehow different. Mostly caused by the decline in global prices, almost all the tickers eneded the day with worse than expected performances.
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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