Market News

– Iranian Stock Exchanges (Iran Fara Bourse and Tehran Stock Exchange) stood tall in the ranking of the World Federation of Exchanges (WFE) in terms of performance for a period of 365 days ending September 2018. IFB & TSE has returned their investors’ handsome figures of 132% and 127% respectively during the said period and stood 1st and 2nd in the ranking between 72 international exchanges. 

– Agah analyses of Iran exports show that despite the snapback of sanctions by the united states, the volume and value of the most important export items have little changed and stayed at an “acceptable” level. Data of Methanol and Urea exports have been taken as examples and below charts are demonstrating the details:

– After the serious measure was taken by the administration to address the restructuring of Iranian banks, now the CEO of Saderat Bank has announced that the government is to start the clearing process of its liabilities to contractors, banks and the central bank. According to the 2018/19 budget bill, the government shall clear its debts up to a figure of IRR 1,000,000 bn (USD 23.81 bn – USD/IRR 42,000) by the issuance of Islamic Treasury Bills which is now apparently in play.

In the Market

Equities did a perfect and somehow strange rebound today after the other day’s fall and got back to their right track as the weight of emotions lifted from the market and replaced by analytics. TEDPIX (+0.68%) jump for a moderate figure of +1,200 points and closed above 184K level. IFEX (+1.33%)finally ended its corrective and truth be told boring phase and closed at 2,011.08 level. Although the trading volume and value still stuck at their bottom, however, the market showed unless out of hand political news does not intervene, the trust could come back amid investors.

Today’s jump was mostly because of a rise in the hibernated Banking (+2.47%) sector. After being in a state of warning for quite some time, the industry is to lift off in the wake of fundamental amendments in its structure. Most of the listed tickers will benefit from a free market FX rate translation on their profit and loss statements which also could be a perfect source for their long-awaited capital raises. Moreover, bank managers have realized that the out of hand situation of NPLs must be addressed accordingly and monthly reports confirm that they have taken proper measures to organize the facilities granting framework.

Moreover, the analysis of individuals net position, show that the index was and still is in favour of buyers. It is believed that with the sidetracking of heavy weighted Metals (+0.16%) and Chemicals (0.39%) sectors, Banking could be the front-runner for a while.

Source:

2018, Iranian Stock Exchanges on the top of WFE ranking!, Monday, Nov 05, p.1,<https://agahgroup.com>