In the Market

Tehran Stock Exchange went up by 342 points mostly influenced by mega-cap names like Esfahan’s Mobarake Steel and also thanks to better than expected Q2 performances of Metal producers. However, the value of trades in both the TSE and IFB was light ahead of the upcoming holidays.

In tandem with positive global metal prices, the Iron Ore group started the session strong with Saba Nour Mineral & Industrial Development and Iran Manganese Mines hitting their highs; the latter was halted due to going up 20% in 4 consecutive sessions. A rather similar movement was also seen among the Metals industry; Zarin Ma’dan Asia faced a buy queue today as well.

Unlike the previous session, the Automotive space went through positive trades led by Irka Part San’at hitting its ceiling right from the start. Gradually, nearly the entire space turned into the green.

On the contrary, names in the Oil Products and Chemicals spaces mostly ended beneath their flat lines, but many in the latter could retrace their early losses and moved into a positive territory.

Iran Arqam ticker returned to the market at IRR 2,950, 5% higher. Except for Kharazmi IT Development and Parsian E-Commerce, the rest of the Computer space settled with slim losses.

The more we approached the final hours, the more positive movements were seen in the Construction industry, led by Shahed Civil & Development. A rather similar sentiment was also felt among a few symbols in the Cements space.

Source:

2018, Tehran Stock Exchange ends the last day in deep green!, Wednesday, March 28, p.1,<https://agahgroup.com>