\u2013 Iranian oil minister has announced that the\u00a0sales of crude oil on Iran Mercantile Exchange\u00a0is now waiting for the consent of cabinet member and heads of power branches gave their green light. Due to the sensitivity of this matter, it is agreed for the pilot trades to be based on Iranian Rial and Foreign currencies with a 20-80% weight. Petty\u00a0cargos of up to 40,000 barrels per day can be traded easily on said exchange.<\/p>\n
\u2013 Vice-Chairman of Iran SEO\u2019s fiq committee announced that upon their latest directives the issuance of\u00a0Sukuk al-Wakala\u00a0securities have consented and soon these new instruments will be on\u00a0Iran Capital Market. Sukuk al-Wakala is a type of\u00a0Islamic Sukuk securities\u00a0bases on a\u00a0Wakala agreement\u00a0which will allow the sponsor to have a wider range of uses for the raised funds. Holding companies in need of capital for several subsidiaries\u2019 projects are the first ones who can benefit from these securities.<\/p>\n
In the Market<\/h2>\n
Iran Capital Market surprised\u00a0everyone again today continued its recent triumphs yet with another record high and more stronger than other days.\u00a0TEDPIX (+2.15)<\/strong>\u00a0rose\u00a0for more than\u00a03,500<\/strong>\u00a0green points to stand at a new all-time high of\u00a0168,624.43<\/strong>\u00a0just inches away from\u00a0169K<\/strong>\u00a0level.\u00a0IFEX (+2.51%)<\/strong>\u00a0also performed better than expected and stamped almost 48 positive points on the index extended its gains up to\u00a070%<\/strong>\u00a0this year.<\/p>\n Today\u2019s super bullish trend was mostly influenced by big names of\u00a0Metals (+3.20)<\/strong>\u00a0sector. Giants like\u00a0Isfahan Mubaraka Steel (FOLD, +3.96%)<\/strong>\u00a0was the frontrunner recorded 412.87 points on the overall index. Better than expected commodity trades on IME along with uplifting estimations of the company\u2019s earnings made a good day for the ticker.\u00a0National Copper Industries (MSMI, +3.59%)<\/strong>\u00a0was next in line in terms of good performance today and closed the day with orders left in the buy queue. It is safe to say that almost all of the sector\u2019s shares, except some micro-caps. ended the day in massive demand.<\/p>\n The long-lasted winter sleep of giants in\u00a0Telecommunications (+4.94%)<\/strong>\u00a0has finally woken up and started a storm.\u00a0Iran Telecommunication Company (MKBT, +4.97%)<\/strong>\u00a0along with its mega-cap subsidiary,\u00a0Iran Mobile Telecommunication Co (HMRZ, +4.92%)<\/strong>\u00a0shook up some nerves today and faced with truly massive demand. Apparently, a rise in their tariffs along with the unreasonably bullish trend of the whole market were the catalysts behind their move today.<\/p>\n Finally, the sanctions sensitive sector of\u00a0Auto (-0.10%<\/strong>) with its poor fundamental factor finally gave in its recent gains and surrendered\u00a0to market conditions. Almost all of the industry\u2019s tickers start the day with supply overcoming the demand, however, their status got better throughout the end.<\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n![\"\"](\"http:\/\/agahgroup.com\/wp-content\/uploads\/2018\/09\/2018-09-24_142939.jpg\")
<\/p>\n![\"\"](\"http:\/\/agahgroup.com\/wp-content\/uploads\/2018\/09\/2018-09-24_142947.jpg\")
<\/p>\n![\"\"](\"http:\/\/agahgroup.com\/wp-content\/uploads\/2018\/09\/2018-09-24_142953.jpg\")
<\/p>\n![\"\"](\"http:\/\/agahgroup.com\/wp-content\/uploads\/2018\/09\/2018-09-24_143003.jpg\")
<\/p>\n