Market News

–After a huge wave of protest to SEO’s new disclosure directive, today at meeting with board members of SEO and market professionals, it was decided for the missing financial information needed by analysts to come back in form of annex tables to management performance reports for 7 groups of industries. Banking, Insurance, Leasing, Investments, constructions, production and service providers are among sectors SEO chose to enjoy disclosing foretasted budget information.

–Tomorrow another new issue of Iranian Islamic Treasury bills will be offered to public on Iran Fara Bourse to complete the puzzle of Iran’s debt market. “TB171” worth cUSD 420.3 mn and has a maturity of 1 year. The below table stipulates a range of YTMs for different price scenarios. Also the latest status of the T-Bills market can be seen below.

–Offering by producers’ association, the ministry of industry, mine and trade raised the import tariffs of all season radial tires from 32% to 40%. The raise for heavy duty tires is from 20% to 26%. Stipulating the fact that all the hike in tariffs is not enough to compete with cheap Chinese brands, the head of tire producers’ association, Mohamadreza Ganji, said more support from the government is needed to meet the domestic producer needs.

–According to CBI stats the producer price index (PPI) for a 12-month period ended Jan 20, 2018 reached 258.8 recording a 9.9% increase contrary to the same time last year.

a Snow White session!

In the Market

Stocks opened today modestly higher and steadily mostly extended their gains throughout the session, finishing at their high marks of the day.

Heavily-weighted Metals group (+0.26%) advanced slightly to show the concerns ahead of global market reopening are dominated in the sector. After the shaky movements of Iron Ore, copper and Zinc over the Iranian weekend, practitioners are now in a waiting position to see if there are any global catalysts backing their trades or not. The super giant Iran national copper industries (MSMI1, +0.56, IRR 2,713) changed hands for 7.3 mn shares to stamp the second highest positive effect on the overall index.

Meanwhile, the top-weighted Chemical sector (+0.19%) also had a positive showing, thanks in large part to its super sized component, Persian Gulf Petrochemical (PKLJ1, +0.35%, IRR 5,813) that traded for more than 16 mn shares on green. Other tickers of the sector showed rather balanced trades ranging near their flat lines.

On the downside, the Iron Ores (-0.12%) tumbled after their worse than expected Q4 sales estimates. Gol-e-Gohar (GOLG1, -0.33%, IRR 3,599)took the lead and showed retaliative weakens over today’s session.

Source:

2018, SEO to make amends for disclosure directive!, Sunday, January 28, p.1,<https://agahgroup.com>