The Securities and Exchange Organization of Iran hosted Mr. Ali Tayebnia, the Minister of Economy and Commerce the other day. Considering the capital market status and conditions plus its potential for growth, attendees discussed the whole economy and the minister announced the lowering of the interbank interest rate to 18.5%, enjoying an 11.5% decline since the summer. The CEO of SEO also called the capital market as one of the priorities of the current government. Referring to the fact that many powerful countries enjoy a large and powerful capital market, he added that such markets have collected small amounts of money and provided companies with financing services to become active in manufacturing fields. Stating that the capital market’s target is to finance up to $69,464.59 mn by the end of the 6th development plan, Dr. Fetanat said that significant changes have been seen and still are expected from the Iranian capital market, especially Iran Fara Bourse. Finally, he expressed hopes over mutual funds’ capital raise hitting the $14,471.78 mn ceiling; he continued to say that funds provide reliable supports for Sukuk and the capital market and today, they can guarantee the clearing of all securities in the market.
In the Market
Positive trades were seen for most tickers of the Automotive sector. After trading more than 148 mn shares, Iran Khodro Company was titled as the highest volume traded share and eventually ended with a 33 mn-share buy queue. Pars Khodro Company experienced a 3% growth and more than 117 mn of its shares were traded. Iran Khodro Diesel Company, Zamyad Company and Saipa Company were other symbols facing buy queues. According to the news, an agreement is going to be signed between Iran Khodro Company and Benz Company; furthermore, it seems that Peugeot Company will have access to only 15% of the Iranian market.
A positive trend was observed for most symbols in the Metals sector. Leading the sector, Esfahan Steel Company ended with a 17 mn-share buy queue, after trading more than 155 mn shares. Trading more than 28 mn shares, Esfahan’s Mobarake Steel Company also experienced a 2% growth. In addition, Khuzestan Steel Company dropped by 1% and after trading more than 7 mn shares, its ticker was halted.
Most symbols in the Chemicals sector were positively traded and symbols, including Sina Chemical Industries Company and Polyacryl Company faced with buy queues. Trading more than 19 mn shares, Iranian Petrochemical Investment Company topped the sector in terms of the highest volume traded. It was so while Farabi Petrochemical Company and Pars International Products Company were traded at low volumes and least prices.
Eventually, rather balanced trades were seen in the Oil Products sector. Tabriz Oil Refining Company and Lavan Oil Refining Company were traded at their highest prices. Starting the trading session at a negative price, Bandar Abbas Oil Refining Company experienced a 1% price hike and was titled as the highest value traded share. Besides, being reopened at the -6% area, Esfahan Oil Refining Company’s ticker was reopened; according to its latest report, its EPS for the FY ending 19 March 2016 has been estimated to be 26% less than its previous predictions. Finally, after trading more than 27 mn shares, Esfahan Oil Refining Company topped the sector in terms of the highest volume traded.
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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