The all-share index slid 299 points or 0.45 percent to stand at 66530 points. The benchmark is still grappling with the 66000 channel in the technical chart. As it was clear from the exchange market, we were witness to a balanced volume in today’s trading. Fortunately, the overall atmosphere of the country is calm and tensionless. We hear less negative remarks from the opposition sides and it appears that the country is preparing itself for the post-sanction era as this was quite evident in the reception of Foreign minister Mr. Fabius despite his country’s solid resistance against Iran in the nuclear talks. In other words, it was a clear message to the world that Iran is fighting for its own benefits and its interests come first in interactions with the outside world.
One thing that is worth mentioning in regard to international embargoes and financial restrictions is that we shall not put the finger of blame for our deficiencies and economic doom and gloom on outside powers as Iranians are one of the kind in this matter in the world as far as our experience and knowledge of the world go. We should pinpoint to incompetent and incapacitated managers of companies whose faults and failures in running their administration were not revealed until the huge income from oil sales or petrochemical or metal exports cut down due to heavier international pressures on our country deepened and the spread between dollar and rial rate uprooted. Consequently we are inclined to ask what sort of added value they have brought about during and through their so-called management. We can express our heartfelt gratitude and happiness that the current conditions were the sufficient, unshakable alibi for the government to start with comprehensive management-cleaning in order for the lenient and nonchalant managers to be replaced with those of elites and knowledgeable ones.
TSE at a Glance
Summary of Trades
IFB at a Glance
Trading Halts & Delays
Concerning the dollar currency, we are glad to say that its games are over by the speculators and jobbers as the respective authorities are determined to retain the currency at a fixed rate. Regarding the market, the prices have grown by 20 percent compared with last two months. In other words, it means that if you had deposited your money on a bank account delivering 25 percent annual yield instead of risking it on a stock portfolio, you would have lagged behind an individual risked their cash on exchange equities rather than leaving it untouched in the bank. Thus, we recommend to decide wisely about share purchase and retain or modify it if necessary.