Market News

– In a report published by Iran SEO, Iranian brokerage firms ranked by their market share from online trades of both Tehran Stock Exchange and Iran Fara Bourse. Agah Group placed the second with a share of 8.21%. More than 27% of total trades executed in the market over the first sixth-month of 1397 (2018/192) has been carried out by Iranian online trading platforms. SEO announced that the total figure of trades turnover for 1397 H1 reached IRR 1,153,000 bn (USD 27.45 bn – USD/IRR 42,000).

– Iranian Mutual Funds performed surprisingly better than expected during the first six months of 1397 (2018/19). According to stats released by Iran Financial Data Centre, best in class funds in 1397 H1 are:

– Iranian parliament took a big leap towards getting out of FATF grey list by ratifying two out of three major bills asked by the organisation in order for a better transaction with the outside world. Today, and in the majority, the bills of Anti Money Laundering law amendments and joining the Palermo convention passed by parliament members and there is only one other bill left for further debate.

In the Market

Stocks opened today on a widely higher note as the expectations of the market H2 performance reaches new highs. On one hand, the injection of fresh money into the stock market is now a daily routine while on the other, soon to be published H1 performance reports of listed tickers and their dollar (free market FX rate) adjusted earnings raised the anticipated annual return of both TSE and IFB.

TEDPIX (+3.50%) jumped just for +1,000 points in a matter of minutes after the opening bell and stood tall during the session with a near 6,000 points advance. IFEX (+3.11%) as well broke a new cap once again and recorded a historic figure of +2,000 for the first time ever. Analysts believe that today’s trades have a stronger hint of emotions mixed in and investors shall be cautious about what they are buying.

A comparison has been made by Agah analysts on the behaviour of individual (retail) investors during the politically similar situation of 1392 (2013/14) that shows the volume of injected cash into the market differentiate substantially.  below Image demonstrates the individuals’ cash injection in more details:

Just today more than IRR 4,977.6 bn (USD 118.51 mn) of fresh money has been injected into the market (excluding the whole and block trades).

Source:

2018, Tehran Stock Exchange surfs on the edge of Online Trading!, Tuesday, Sep 25, p.1,<https://agahgroup.com>