And this issue also influences the decision-making process of the next president, Seyed Mehdi Sadidi told Tasnim news agency on Saturday.

This year, following what happened in the first half of last year, the stock market was in a volatile situation, and accordingly, investors are still waiting for the market to return to a stable period, he explained.

Referring to this year’s presidential election, Sadidi said: “In this situation, we should use top managers with perceptual skills in the basics of politics and decision-making, and then look for technical skills, but it is while the words of some presidential candidates are being reduced to the microstructures of the stock exchange instead of the macroeconomy and the capital market, so we must focus on the candidates who are careful enough in this regard.”

“On the other hand, instability of laws is another issue that should be considered in the field of stock market; as in the capital market, we always recommend that we should be present in this market with a long-term vision. This is while momentary decisions are in conflict with this issue”, the SEO board member further stated.

Iran is on the verge of yet another political turning point as the current government incumbency gets closer to its end and seven new presidential candidates line up to try their luck for leading the next government.

Iran’s thirteenth presidential election is scheduled to be held on June 18 and this round, the current incumbent president Hassan Rouhani would be ineligible to run for re-election as he was limited to two terms or eight years in office.

Since the last presidential election in 2017, a series of events have drastically changed the Iranian political and economic landscape, on top of which the re-imposition of the U.S. sanctions and the outbreak of the coronavirus pandemic can be mentioned.

The economy, among other factors, has always played a key role in the Iranian elections and it has been high on the agenda of every candidate years after years. Due to the country’s current economic situation, this year, however, the issue is more significant in comparison to the previous rounds.

The impact of sanctions, exacerbated by the pandemic, has caused one of the toughest economic situations in the country’s history, imposing a huge burden on people’s livelihood and business activities, so the majority of people and businesses are closely monitoring the new candidates’ programs for addressing the current economic issues.

It can be said that economic programs will be the determining factor for the success of the presidential candidates in the current round of elections.

The post ‘Selected president should have an understanding of capital market’ appeared first on Iran News Daily.

As previously announced, TEDPIX has risen 13,070 points, or 5.17 percent, to 266,127 at the end of the past Iranian calendar month of Mordad (August 22).

Some 64,126 billion securities worth 215.639 trillion rials (about $5.134 billion) were traded through 6.444 million deals at TSE during the past month, indicating 8 percent and 21 percent drop in terms of the number and value of securities, respectively, while 16 percent fall in the number of trades compared to its previous month.

Meanwhile, as announced by Fariba Akhavan, the deputy managing director of Central Securities Depository of Iran (CSDI), some 47,000 new trading codes were issued in Iran’s stock market during the fifth month.

With the new codes issued, the total number of trading codes in the country’s capital market reached 11.042 million, Akhavan said.

She also said that 92 codes have been issued for the foreign shareholders since the beginning of current Iranian calendar year (March 21) and the total number of foreign shareholders’ codes is 1,366 at the moment.

The first trading code was issued for a foreign shareholder in Iranian calendar year of 1373 (1994-95) to let it commence its activity in Iranian capital market.

Presence of new shareholders in Tehran Stock Exchange (TSE) rose 40 percent in the past Iranian calendar year 1396 compared to its preceding year.

Based on the already released reports and data, Iran’s exchange markets witnessed fruitful performances and results in the past Iranian calendar year 1397 (ended on March 20, 2019).

Applying new financial instruments in Iranian capital market was another achievements of the exchange markets during the past year, as TSE officially launched “futures” in mid-December 2018 for more risk management and IME launched “option” in early March 2019 in an approach to diversify financing methods for agricultural products.

The post TEDPIX down 1.9% in a week appeared first on Iran News Daily.

On this trading floor, 41,402 MT of steel, 940 MT of copper, 1,780 MT of aluminum, 120 MT of molybdenum concentrates and 12 MT of precious metal concentrates were traded by customers.

The report declares that on domestic and export oil and petrochemical trading floors of IME, 212,485 MT of different commodities with the total value of $246 million were traded.

On this trading floor, 55,000 MT of VB feed stock, 50,675 MT of bitumen, 45,776 MT of polymer products, 24,860 MT of chemical products, 2,894 MT of insulation, 30,500 MT of lube cut oil as well as 2,900 MT of sulfur were traded.

Moreover, the agricultural trading floor witnessed trading of 15 kg of saffron strands.

Furthermore, 1,406 MT of commodities were traded on the side market of IME.

On June 24, during the meeting of IME shareholders, IME Managing Director Hamed Soltani-Nejad said that this exchange has prepared ten macro plans to improve its performance during the current Iranian calendar year (ends on March 19, 2020).

He mentioned development of underlying assets through existing instruments, development of financial instruments for commodity-backed securities, expansion of market size and depth, increasing cooperation with other organizations, and strengthening IME brand as some of the mentioned macro plans.

Soltani-Nejad has previously announced that IME accounted for 39 percent of the value of the total trades in the Iranian capital market during the past Iranian calendar year.

He put the value of IME trades at 1.78 quadrillion rials (about $42.3 billion) in the past year.

The value of trades at IME rose 52 percent in the past calendar year from its previous year.

Over 24.84 million tons of commodities valued at 884.3 trillion rials (about $21.05 billion) were traded at the physical market of IME, showing seven percent fall in the amount and 77 percent rise in the worth of trades year on year.

Applying new financial instruments in Iranian capital market was one of the achievements of the country’s exchange markets during the past year.

In this due, IME launched “option” in early March 2019 in an approach to diversify financing methods for agricultural products.

Option is a contract which gives the buyer (the owner or holder of the option) the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price prior to or on a specified date, depending on the form of the option.

The post Commodities worth $309m traded at IME in a week appeared first on Iran News Daily.

“Improvement of listing procedures as well as IT environment besides adopting an international approach stand among the main future programs of TSE,” he said, “We have also reinforcement of executive and technical infrastructure, development of taskforce ability, systematic and intellectual monitoring over the market and the trades on the agenda.”

Sahraie underlined that creating an environment for economic firms to increase their earned profit is the best way for increasing profitability and having access to cheap financial resources and the capital market plays a key role in financing at the lowest cost.

Sahraie replaced Hassan Qalibaf Asl, who held the position for almost a decade, in mid-September and will run TSE for two years.

Capital market indices in Iran have generally experienced a positive trend since mid-June under the conditions that domestic markets are awaiting the new wave of U.S.-led sanctions in November, following being hit by the first round of sanctions posed in early August.

Although Iran’s economy is experiencing a series of problems including stagnation, high inflation and unemployment rates, but capital market indices open in green and hit record high.

The growth can be explained regarding the dominant recession on other domestic markets, which has guided a big sum of liquidity from other markets such as auto, foreign currency, housing and coin to the capital market.

The government’s recent focus on supporting and expanding the capital market, can also explain the recent jump in indices.

The low tax rate, liquidity transparency, and other provided instruments by the government has presently given the investors in the capital market the confidence about low liquidity risk in the stock market and has led to attraction of a large volume of capital and expansion of trade and cooperation among private companies.

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