Stocks Hold Breath in Runup to Iran Presidential Poll

Iranian stocks did not have much going for them during the past week, as the nation was transfixed on the presidential vote slated for May 19.

Tehran Stock Exchange’s main index gained just 217 points or 0.3% during the week that ended May 17 to close at 80,344.2.

IFX, the over-the-counter Iran Fara Bourse’s benchmark, lost 8 points or 0.9% during the week to 916.

Trading at the two exchanges begins on Saturday and ends on Wednesday.

It remains to be seen how the two exchanges will react to the poll results on Saturday.

Over 9.62 billion shares valued at $481.5 million were traded on TSE during the week. The number of traded shares and trade value shrank by 8% and 48.6% respectively compared to the previous week.

TSE’s First Market Index gained 59 points or 0.1% to end at 55,784.1.

The Second Market Index won 1,004 points or 0.57% to close at 177,908.5.

At IFB, more than 1.12 billion securities valued at $157.86 million were traded. The number of traded shares and weekly trade value dropped by 28% and 19% compared to the previous week.

IFB’s market cap gave up $71.57 million or 0.2% to reach $28.80 billion.

Its First Market witnessed the trading of 84 million securities valued at $5.36 million, indicating a 53% and 42% downturn in the number of traded securities and trade value respectively.

About 429 million securities valued at $35.10 million were traded in the Second Market, with the number of traded securities and trade value dropping by 33% and 37% respectively week-on-week.