Iran Capital Market Daily Report
Tehran Stock Exchange main index lost 123 points to end Monday trade at 95,477. Bank Mellat gave the biggest boost to the benchmark index, followed by Persian Gulf Petrochemical Industries Company and Iran Khodro Group respectively by 61, 45, and 44 points. Parsian Oil and Gas Development Group weighed the most on TEDPIX by 67 points, followed by Iran Mines and Metals Development Company and Chadormalu Mining and Industrial Complex by 58 and 41 points. The IFX inched up 5 points to end yesterday’s trade at 1,069. Total trade value was around 6,440bn IRR.
Today's Market Forecast
According to our previous expectations TSE starts an adjusting phase and supply pressure increased in most sectors which increased significantly recently. It seems the investors gaining from their short term invests and probably it could not be a serious fall. Despite widespread fall in most of sectors, the automotive group faced to high demand for shares.
Based on recent market’s trend it seems the stock market needs to rest temporarily. We expect a balanced trend market at least to the end of weak. The Automotive group may follow its bullish trend but raise in supplies will expect at positive ranges.