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Over 5.64 billion shares valued at $327.5 million were traded on TSE during last week.
Over 5.64 billion shares valued at $327.5 million were traded on TSE during last week.

Iran: Week of Stock Market Rallies

Rising global commodity prices such as those of steel, copper and oil combined with a devaluing rial shored up base metal and refinery shares last week
The main index of the smaller over-the-counter exchange Iran Fara Bourse also surged 29 points or 2.9% during the week to stand at 1,042.3

Iran: Week of Stock Market Rallies

Bulls came back to Iran's stock market last week after the lackluster performance of the week before. Both Tehran Stock Exchange and Iran Fara Bourse pushed ahead to reach new highs by further extending their all-time records.
TSE’s main index TEDPIX jumped 2,191.6 points or 2.4% during the week that ended on December 13 to close at 93,284.
The main index of the smaller over-the-counter exchange Iran Fara Bourse also surged 29 points or 2.9% during the week to stand at 1,042.3.
TEDPIX started the week slowly while remaining in the 91,000 territory. Trade on Tuesday and Wednesday, however, saw the index gain a total of 1,731 points and break past two new historical levels to stand at the highest it has ever been.
Rising global commodity prices such as those of steel, copper and oil combined with a devaluing rial shored up base metal and refinery shares last week. China’s continuous output capacity cuts and increasing imports are set to extend the trend.
The rial has lost 12.23% of its value against the US dollar and 22.7% against euro so far this fiscal year (March 2017-18) to 42,110 and 50,480 rials respectively. The trend has been rather continuous ever since Q2. Last week saw the two currencies gain 0.5% and 0.19% respectively against the rial.
“The capital market has entered a new phase … It will have sustained upticks based on fundamental factors,” said Kourosh Shams, CEO of Padash Sarmayeh Asset Management Company.
Shams predicted market industries to have a smooth growth for the rest of the year, pointing to widely better-than-expected corporate performance for Q1 and H1, Securities and Exchange News Agency reported.
Over 5.64 billion shares valued at $327.5 million were traded on TSE during last week. The number of traded shares and trade value rose by 53% and 40.3% respectively compared to the previous week.
Trading at Iran’s stock markets starts on Saturday and ends on Wednesday.
TSE’s First Market Index gained 1,942.3 points or 2.99% to end at 66,686.6. The Second Market Index rose by 2,538.2 points or 1.3% to close at 196,398.
And at IFB, with a 33% share of weekly trade, base metal shares were the market leaders, followed by chemicals with 11%, and construction and real estate with 9%.
More than 2.69 billion securities valued at $351.6 million were traded at the over-the-counter exchange. The number of traded shares and trade value surged by 133% and 78% respectively week-on-week.
IFB’s market cap gained $713.3 million or 2.5% to reach $29.10 billion. 
Its First Market witnessed the trading of 839 million securities valued at $34.92 million, indicating a 101% and 90% rise in the number of traded securities and trade value respectively.
About 1.14 billion securities valued at $52.14 million were traded in the Second Market, with the number of traded securities and trade value rising by 322% and 153% week-on-week respectively.
Over 10 million debt securities valued at $216.5 million were also traded at IFB, rising 68% and 67% in the number of bonds traded and their value respectively.

 

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