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TSE Daily Trade Up  Threefold Since Last Month
Economy, Business And Markets

TSE Daily Trade Up Threefold Since Last Month

Tehran Stock Exchange's main index is hovering around a one-year high. TEDPIX started to rally after January 16, the day on which the UN nuclear agency confirmed Iran has complied with the landmark deal it struck with world powers to limit its nuclear program. The announcement marked the official end of western sanctions against the Islamic Republic.
According to Hamid Rouhbakhsh, a spokesman of the exchange, the volume of daily trading increased from $40 million to $133 million since the implementation of the deal.
"Since the implementation of the nuclear deal last month, the stock index has experienced a 15-percent growth in terms of share turnover alone," he told AP.
TEDPIX jumped 3.11% on January 26, in a biggest daily surge in recent memory.
Earlier, in an interview with Bloomberg, the chief executive officer of TSE, Hassan Qalibaf-Asl, said the value of transactions by overseas investors, mostly European, increased tenfold to about 500 billion rials ($16.6 million) in the 10 days through Jan. 26, compared with $1.6 million in the 10 days preceding that day.
"The total trade value is not remarkable yet, but it is a very good indication that foreign investors are now more enthusiastic about our market than before," Rouhbakhsh added.
Stockbroker Tahereh Molaie said after the nuclear deal, "everyone was a little bit doubtful, but now we can say that trust is returning to the market."

> Flat Wednesday for TEDPIX

The benchmark inched down 41.50 points or 0.06% to settle Wednesday trade at 73,684.
More than 2.2 billion shares valued at $118.8 million changed hands.
The Price Index shed 16 points or 0.06% to end at 28,275.2.
The First Market Index gained 3.40 points or 0.01% to reach 51,055.4.
The Second Market Index lost 276.40 points or 0.17% to settle at 164,148.6.
The Industry Index gathered 50.40 points or 0.08% to post 61,359.7.
The Free Float Index slipped 10.83 points or 0.01% to finish at 82,063.80.
The TSE 30 Index was down 13.40 points or 0.43% to register 3,117.7 while the TSE 50 Index withdrew 8.80 points or 0.29% to close at 2,975.1.
Mobarakeh Steel Company, with a P/E ratio of 10, provided the biggest boost to TEDPIX by 101.4 points, followed by Bandar Abbas Oil Refining Company and Bank Parsian with 55.65 and 35.45 points respectively.
Parsian Oil and Gas Development Company, with a P/E ratio of 6, was the worst performer followed by Tamin Oil, Gas and Petrochemical Investment Company and Bank Mellat, dragging down the benchmark by 84.02 points, 46.64 and 41.02 points respectively.
At Iran's more nimble over-the-counter market Iran Fara Bourse, the overall index gained 5.03 points or 0.64% to end Wednesday trade at 792.14.
More than 360 million securities valued at $66.8 million changed hands in 36,000 transactions.
Tehran Oil Refining Company saw the highest daily trade value with $1.8 million worth of its shares traded and Bank Day recorded the highest number of transactions as 35.9 million of its shares changed hands.
Amir Kabir Petrochemical Company, Ravan Fanavar Engineering Company and Shiraz Oil Refining Company had the highest rise in share value, while Tadbirgaran-e Fars and Khuzestan, Ballast Company and Alborz Etela Company experienced the highest decline.
Sobhan Investment Company were also on investors’ radar.
HIC Fund, with the transaction of 2 million shares, registered the largest transactions among listed exchange-traded funds.

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