Stocks Make Strong Gains In Iran

EghtesadOnline: Iran’s stock market remained unfazed by US President Donald Trump’s Friday evening anti-Iran remarks and saw remarkable growth the next day.

News ID: ۷۴۴۰۵۹

15 October 2017

Tehran Stock Exchange’s main index gained 519.50 points or 0.61% to end Saturday trade at 85,263.6.

The over-the counter exchange Iran Fara Bourse’s main index went up 4.72 points or 0.51% to close Saturday trade at 934.41.

Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday, according to Financial Tribune.

In a speech made on Friday, Trump said his administration “cannot and will not” certify Tehran’s compliance with the Iran nuclear agreement to the US Congress. He said the US will remain in the Joint Comprehensive Plan of Action reached under his predecessor in 2015, but he will not certify to Congress that Iran is in compliance under the Iran Nuclear Agreement Review Act of 2015, CBS News reported.

“Based on the factual record that I have put forward, I am announcing today that we cannot and will not make this certification,” Trump said. “I am directing my administration to work closely with Congress and our allies to address the deal’s many serious flaws so that the Iranian [government] can never threaten the world with nuclear weapons.”

About 615 million shares valued at $27.564 million changed hands at TSE on Saturday.

Carton Iran Company was the biggest riser, going up 4.99% to 5,679 rials per share.

Loabiran Company incurred the biggest loss among all TSE-listed companies, as it went down 4.79% to 4,630 rials per share.

Esfahan Steel Company gave the biggest boost to the benchmark, followed by Iran National Copper Industry Company and Chadormalu Mining and Industrial Company.

Jam Petrochemical Company weighed the most on TEDPIX, followed by Goltash Company and Exir Pharmaceutical Company.

The Price Index gained 167.80 points or 0.61% to close at 27,549.2. The First Market Index went up by 469.40 points or 0.80% to post 59,017.4. The Second Market Index increased by 581.10 points or 0.31% to reach 189,727.1. The Industry Index grew by 508.50 points or 0.69% to register 74,323.0. The Free Float Index scored by 697.17 points or 0.76% to hit 92,212.70. The TSE 30 rose by 34.00 points or 0.98% to settle at 3,489.6 while the TSE 50 went up 23.60 points or 0.70% to 3,397.5.

At IFB, close to 261.91 million securities valued at $45.824 million were traded at the over-the-counter exchange for the day.

Esfahan Steel Company witnessed the highest number of traded shares, as 75.770 million of its shares changed hands. The company also had the highest trade value, with the trading of shares worth $1.528 million.

Iran Cultural Heritage and Tourism Investment Group Company, Mavad Vije Lia Company and Asia Seir Aras Company had the highest value increase.

Marjankar Company, Taliseh Company and Kerman Development Investment Company suffered the biggest decline.

Iran Cultural Heritage and Tourism Investment Group Company, Esfahan Steel Company and Arfa Iron and Steel Company had the most positive impact on the IFB benchmark.