IRAN CAPITAL MARKET DAILY REPORT
Tehran Stock Exchange’s main index shed 83 points to end Sunday trade at 83,345. Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark, followed by Esfahan Oil Refinery and Mobile Telecommunications Company of Iran respectively by 271, 31, and 15 points. In other side, SAIPA weighed the most on TEDPIX by 210 points, followed by Mobarakeh Steel Company and Golgohar Mining & Industrial Company by 30 and 27 points. IFX with no changes remained at 952. Total trade value in both TSE and IFB markets was around 1,650bn IRR.
Today’s Market Forecast
The excitement of trades raised once again due to reopening of Siapa symbol. Some other symbols will reopen until the end of summer. By increasing demands for Saipa at the price of 1,100-1,150 IRR, demands for all symbols of automotive group may increase. Due to increasing global commodities’ price, it seems related symbols to Metal group may face to investors’ demands. Study the price charts of petrochemical symbols shows that most of the symbols are close to their support level. We don’t expect high-volume supply like yesterday.
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