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Iran Fara Bourse Registers 78% Growth in 6 Months

Sep 25, 2019, 11:45 AM
News ID: 30319
Iran Fara Bourse Registers 78% Growth in 6 Months

EghtesadOnline: The benchmark of the Iran Fara Bourse, the junior stock market, stood at 4,017 by the end of last calendar month to Sep.22, registering a 78% growth since the beginning of the current fiscal year on March 21.

Compared to a month earlier, the main index gained 438 points in the month, indicating 12% growth. It soared by 89% compared to H1 of the last fiscal year, IRNA reported.

A total of 33.045 billion securities valued at 209.964 trillion rials ($1.85 billion) were traded in the market in more than 5,183 trades during the month.

Compared with the same period last year (March 2018-19), the figure indicates a whopping 157% and 240% hike in the value and volume of deals, Financial Tribune reported.

Average daily volume of traded securities reached 1.65 billion and average trade value was 10.49 trillion rials ($92.5 million) in 20 trading days during the month. 

In the period more than 3.63 billion shares worth 20.22 trillion rials ($178.2 million) changed hands in the First Market.

About 15.80 billion shares valued at 88.70 trillion rials ($781.5 million) were traded in the Second Market during the month.

More than 52 million debt securities worth 42 trillion rials ($370 million) were traded in the 20 working days.  

Likewise, a total of 881 million units of Exchange Traded Funds worth 14 trillion rials ($123.34 million) changed hands.

The volume and value of traded ETFs registered a 271% increase compared to the same period last year.

An ETF is a type of fund that owns underlying assets (shares, stocks, bonds, oil futures, gold bullion and foreign currency) and divides ownership of those assets into shares.

An ETF can own hundreds or thousands of stocks across various industries, or could be isolated to one particular industry or sector.

Debt securities fell 3% and 7% in terms of volume and value of trade compared with same period a year ago.

In terms of performance of different industries in the market, base metals topped the list with trade value at 14.67 trillion rials ($129.24 million) or 11% of total value of trade.

It was followed by banks’ stocks with trade value of 11.62 trillion rials ($102.45 million) or 8% share of IFB’s total trade value.

Mass construction and real estate industry ranked third with 10.09 trillion rials ($88.92 million), accounting for 7% of total value of trade.