IRAN CAPITAL MARKET DAILY REPORT
Tehran Stock Exchange’s main index shed 420 points to end Sunday trade at 83,255. Mobile Telecommunicatios Company of Iran gave the biggest boost to the benchmark by 143 points, followed by Jam Petrochemical Company and Tamin Petroleum and Petrochemical Investment by 66 and 50 points. National Iranian Copper Industries Company weighed the most on TEDPIX, followed by Mobarakeh Steel Company and Golgohar Mining and Industrial Company respectively by 143, 66, and 50 points. IFX also dropped 5 points to end yesterday’s trade at 943. Total trade value in both TSE and IFB markets was about 1,000bn IRR.
Today’s Market Forecast
TSE market begins today while investors concentrate on Metals’ prices at global markets. The supply pressure caused by investors who wish to settle their received credits with brokerage firms makes overall condition of market much harder. US dollar with single domestic rate may motivates refinery symbols. The petrochemical symbols will continue their upward trend due to increasing the price of Methanol and Urea. For today’s market, investors may face to high-volume supplies.