Market News

– Following the earlier CBI’ decision to release a “Rescue Package” maintaining the volatile situation of the FX market, rates on almost all of Iranian debt securities yields raised to +20% levels overnight. The following table shows the latest status of Iran’s Debt Market a month after the said package release date:

– Continuing the settlement process of Iranian government debts to private sector, the administration spokesman announced the offsetting of the IRR 1,000,000 bn (cUSD 20,202 mn) worth of contractors’ liabilities to banks with government’s liabilities to those contractors within the current month, for which a specific mechanism has been defined with the Central Bank of Iran.

In the Market

Stocks continued their bullish spring trend in today’s session, reclaiming a good chunk of their previous week’s decline, with Petrochemical and Oil Products sectors leading the charge. The TEDPIX advanced 0.11% to 96,596.65 and the IFEX jumped 0.35% to 1,107.60.

Names in the Metals and Iron Ore spaces grew in line with global metal price rise such that Zarin Ma’dan-e Asia and Iran Mineral Processing in the former and Iran Manganese Mines and Bafq Mines in the latter faced buying queues right from the start. Calcimine also returned to the market at IRR 6450, 3% higher.

The Oil Products industry along with the Chemicals group also saw balanced to positive trades following oil price growth in global markets.

While it had negatively adjusted its EPS estimates by 56% based on its 9-month period, “Iran Arqam” of IT sector announced its finalized contract to sell 200 ATM; the ticker will be back to the board at tomorrow’ session. Other symbols in the Computer group settled with balanced trades.

Finally, after entering into 2 major contracts, “Irka Part San’at” returned to the market 5% higher, although the majority of tickers in the Automotivespace went through heavy sales pressure.

Source:

2018, Iran’s Debt Market still enjoys +20% risk-free yields!, Tuesday, March 27, p.1,<https://agahgroup.com>