Economy, Business And Markets

MENA’s 4th Biggest Rental Bonds Market

MENA’s 4th Biggest Rental Bonds MarketMENA’s 4th Biggest Rental Bonds Market

The Iran Fara Bourse has been ranked as the 4th biggest rental bonds markets in the MENA region, where Turkey, Kazakhstan, and Egypt equity markets took the first, second, and third place respectively, IFB public relations quoted Amir Hamouni as saying.

Commenting on rental bonds transactions over the past Iranian calendar year (ended March 20), Hamouni went on to say that around $4.81 billion worth of rental bonds were registered at the IFB, which was nearly the same as stocks’ trade volume in the same period”. Hamouni added that the IFB statistics reveal that rental bond transactions within the first two months of the current Iranian year, which started March 21, was accompanied by 42 percent growth compared with the same period last year.    

“In case of rental bond transactions, the IFB can easily take over Kazakhstan and Egypt’s equity markets, however, a big gap is ahead to catch up with Turkey,” SENA quoted Hamouni as saying.

MENA is a region encompassing approximately 22 countries in the Middle East and North Africa. The MENA region accounts for approximately 6% of the world’s population, 60% of the world’s oil reserves and 45% of the world’s natural gas reserves. Due to the region’s substantial petroleum and natural gas reserves, MENA is an important source of global economic stability.

 Modern Financial Instruments Market

More than 7.8 million securities changed hands in the IFB’s Modern Financial Instruments Market in the week that ended May 13, to highlight around 99 percent surge in trade volume in comparison to the prior trading week.

According to IFB’s public relations, the IFB’s trade volume and value were up 1 and 12 percent respectively, with close to 690 million securities changing hands, valued at $16.11 million.

The banking sector occupied base metal’s place and positively topped other listed industries at the IFB. Chemicals and oil petroleum commodities with almost 14 and 13 percent took the second and third place respectively.

 IFX Ends in Red

The IFB’s benchmark notched down 11.88 points or 1.6 percent to end the week’s first trading day in red territory.

More than 74 million securities changed hands in 17,439 transaction rounds, valued to around $44.1 million.  Bank Hekmat with about 8.5 million shares registered the highest trade volume, and Tehran Oil Refining Company with close to $1.6 million recorded the highest trade value at Sunday trading.

Niroosarmayeh Company, Amirkabir Petrochemical Company, and Ghasem Iran Company were the investors’ safe haven, as they witnessed the highest volatility cap, however, Fan Ava Company, Novin Insurance Company; Asia Zarin Madan Company recorded the highest price retreat. According to the report, close to 45,550 fixed-income rental bonds were traded at the IFB. Moreover, Atlas Fund, with around 6,979 shares topped the highest trade volume among other listed exchange traded funds at the IFB.