Market News

– After the US withdrawal from JCPoA, the major concern amid Tehran Stock Exchange practitioners was the path that individual’s money will choose further upon. Funds flying to parallel markets like gold, fx or even housing kept the capital market investors up for nights. The recent trends show that the individual investors’ sentiment is now in favour of equities again and trading values are the facts to that. Below images demonstrate a clear picture of the net inflow/outflow of funds during that stressful period along with changes in the trading value of the market.

Source: Agah Group

– Khuzestan Cement Co., listed as KHOC1 on Tehran Stock Exchange second market, is to issue new Salam Sukuk securities with a 1-year maturity and a minimum annual yield of 19.5%. This new issue worth IRR 500 bn (USD 11.94 mn), capped at 23% yield per annum and is to cover the working capital needs of the company.

– In a closed session with the minister of economy and governor of central bank, the parliament members reached a decision to establish real-sized Iranian investment banks with large scales and adequate capital. Current institutions are providing just parts of investment banking industry and to meet the ends of domestic production goals there shall be investment banks with proper resources to boost the sector.

Stocks slip after consecutive days of the bullish rally!

In the Market

The stock market ended today’s session on a mostly lower note as investors stopped to catch a breath after massive green rallies of the other week. The TEDPIX declined 0.18%  closing the day at 95,626.01 level while IFEX dropped even harder by -0.32% and stood at 1,107.34

Mega-caps in Oil Products (-1.71%) and Chemical (-0.27) groups were in focus today as political tensions eased the global crude price hikes. Bandar Abbas Oil refinery (PNBA1, -3.96%) stamped the most negative points on the overall index (-107.80 pts) by 3.1 mn traded shares. Jam Petrochemical (PJMZ1, -2.43%) stood second in line with 61.47 negative points.

Separately, the Gol-e-Gohar Co. (GOLG1, -1.53%) of Iron Ores stimulated the bearish trend of the market and ended a 10 session green trip finally. Other names of the industry showed rather balanced trades with a hint of precaution from the investors’ side. The ambiguities of FX rate along with its effects os IME trades forced the investors today to be reluctant towards the blue-chip sector.

Elsewhere in the Metals sector (0.01%) a rather calm situation were dominant. With its balanced trades and range bound fluctuations, the sector index closed near its flat line.

Source:

2018, Fresh funds to revive Tehran Stock Exchange!, Sunday, May 27, p.1,<https://agahgroup.com>