bourse Archives - Iran News Daily

Trade at TSE bourse hits highest ever

reporter 1222 — Mon, 20 Jan 2020 05:28:58 +0000

TEHRAN (Iran News) – The value and size of trade at the main Iranian stock market, TSE bourse, reached levels described by experts as truly unbelievable.

The main index in the Tehran Stock Exchange, TSE bourse, hit an all-time high of 409,962.25 points, an increase of 2.63 percent or 10,517 points for TEDPIX compared to the previous day of trade, reported Press TV.

That came as TSE’s price index, known as TEPIX, also rose 3.28% to hit 126,014 points.

Total value of shares in the TSE reached 14,908.299 trillion rials (over $110 billion), said the reports, adding that trade on the first day of the Iranian week reached a total of 692,893 times for 9.266 billion shares worth of 39.855 trillion rials (nearly $300 million).

The boom in trade comes as more Iranian households tend to view shares as a safe way of protecting their savings against fluctuations in the market.

The government has also played a role in the surge by selling bonds known as Sukuk which are seen by many as a form of high-yield investment.

Experts have described the surge as surprising given the current economic situation in Iran and the fact that the country is under a harsh regime of sanctions imposed by the United States.

TEDPIX, the main index at the TSE, was hovering around 90,000 points in 2015 when Iran was relieved of a previous round of international sanctions that had been imposed over its nuclear program.

Also on Saturday, the Central Bank of Iran (CBI) launched its first round of trade for bonds under its newly initiated open-market operation (OMO) policies.

Reports said the purchase by CBI of bonds offered by major banks and financial institutions began earlier in the day at Fara Bourse (IFB), a small-cap market, where the total index increased 165 points to reach 5,276 on Saturday.

The total value of trade at IFB also hit 30,133 trillion rials (over $223 million).

The post Trade at TSE bourse hits highest ever appeared first on Iran News Daily.

Sale of petchems in Iran bourse exceeds $200 mln

reporter 1222 — Sun, 15 Dec 2019 13:37:26 +0000

TEHRAN (Iran News) – Sale of petchems in Iran local bourse has exceeded $200 million in one week as the government keeps using the mechanism to bypass the American sanctions imposed on the oil and gas industry.

The official IRNA agency said the value of trades involving sale of various petchems at local bourse, Iran Energy Exchange (IRENEX), in the week ending on December 11, 2019, had reached a total of 27.108 trillion rials.

The report said around 25.864 trillion rials (nearly $207 million) had been gained from the sale of products at the export ring of IRENEX which is normally frequented by customers from neighboring countries.

It said major products sold to foreigners over the weekly trade period were gasoline, diesel and liquefied natural gas (LNG), adding that the total weight of the cargoes traded, including those sold to domestic customers, had topped 4.3,606 tons.

IRENEX, once a modest instrument used for local energy trades, has become a major component of government efforts to offset the impacts of the American sanctions on the direct sale of oil and petrochemical products.

Major Iranian refineries have been offering their high-end products for trade at the bourse where customers from neighboring countries like Iraq, Pakistan, and Afghanistan are placing heavy orders for products like gasoline and LNG.

The United States imposed its inclusive sanctions on Iran’s oil sale in November last year months after Washington withdrew from an international agreement on the country’s nuclear program.

Government officials believe the sanctions, which were toughened in May, have caused a major boom in the downstream sections of the oil industry where Iran had normally lagged behind in terms of investment and production over the past decades.

The post Sale of petchems in Iran bourse exceeds $200 mln appeared first on Iran News Daily.

Tehran Stock Exchange rises high

reporter 1222 — Tue, 10 Dec 2019 11:12:34 +0000

TEHRAN (Iran News) – The main index at Tehran Stock Exchange (TSE), Iran’s chief bourse, has risen to a record high, despite a recent surge in the prices of foreign exchange, which could have caused a fall in share investments.

It said the price index, TEPIX, had also rallied by 1,737 to stand at 102,799 points, bringing the total value of Tehran Stock Exchange to more than 12,130 trillion rials (over $90.5 billion).

ISNA reported that TEDPIX, the main index at TSE, had increased by 4,942 points to reach a total of 332,567, a record high never seen on the market before.

The figures recorded on Sunday were slightly higher than a previous round of boom seen on the market on October 5, 2019, when TEDPIX stood at 327,305 and TEPIX topped 97,377 points.

A total of 4.772 billion shares were traded at TSE on Sunday at 544,880 times of exchange with an overall value of 23.09 trillion rials (over $172 million), said other reports.

One private bank, one major petrochemical company and several mining and metals groups were among those with highest-yielding shares in the market.

The ISNA report further said that trade in Iran Fara Bourse (IFB), an off-exchange market, was also booming on Sunday with the main index closing at 4,282 points, a 53-point increase compared to the previous day.

However, the report added that the IFB had accommodated a total of 388,000 share trades worth more than $410 million.

The latest rallies at TSE and IFB come despite a surge in the prices of foreign currencies in Iran that began following a government decision to increase the price of fuel last month.

That proves reports that shares have outperformed forex in attracting household savings as a major source of investment.

The post Tehran Stock Exchange rises high appeared first on Iran News Daily.