TSE Seesaw Trading Ends Month Higher

Tehran Stock Exchange’s main index TEDPIX gained 648 points or 0.8% during the seventh month of the current Iranian year (Sept. 23-Oct. 22) to end at 86,480.2.

The benchmark index of the over-the-counter exchange Iran Fara Bourse shed 14 points or 1.5% during the same month to close at 943.

TEDPIX is currently hovering around a 45-month high.

Nearly all of TEDPIX’s tangible gains came during the fourth week of the month, as the index rose 1.2% during the five-day trading week.

Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.

TSE stocks were dropping for three weeks straight before this. Analysts mostly believed this to be a premature reaction to the potential political risks of Iran nuclear deal going under following US President Donald Trump’s decision to not certify the deal to Congress.

Investors were unfazed on Oct. 14, however, as Trump’s anti-Iran remarks on Friday ended up being less cataclysmic than initially expected.

With no more immediate systematic risks in sight, TSE stocks rebounded 0.61% on Saturday and continued the rally for the rest of the month, gaining further momentum on the back of H1 production data and stronger dollar and euro against rial.

Over 14.88 billion shares valued at $1.11 billion were traded at TSE over the past month, with the number of traded shares and monthly trade value dropping by 12.3% and 2.6% respectively compared to the month before.

TSE’s First Market Index gained 309 points or 0.5% during the month to stand at 60,215.4, while the Second Market Index added 2,211 points or 1.2% to reach 190,581.4.

At IFB, more than 5.8 billion securities valued at $1.17 billion were traded, indicating a 37% and 32% growth in the number of shares traded and trade value respectively.

More than 333 million securities worth $18.62 million were traded in IFB’s First Market, registering a 69% and 67% downturn in the number of traded shares and trade value respectively.

Over 3.02 billion securities changed hands in the Second Market valued at $144.7 million, registering a 53% growth in the number of shares traded and 20% drop in trade value.

Over 26 million debt securities valued at $635.3 million were traded at IFB, up 13% and 12% in volume and value respectively. Exchange-traded funds’ trade also stood at 148 million valued at $42.75 million, growing 108% and 145% respectively.