Baku, Azerbaijan, Oct. 4
By Farhad Daneshvar – Trend:
Tehran Stock Exchange (TSE) has witnessed a boost in the shares of the country’s auto sector as Iranian carmakers were the market leaders on the TSE’s trading board.
The value of the traded auto shares at the TSE on October 3 stood at about $36.48 million (1.15 trillion rials converted to US dollar according to the official rate) which formed half of the value of all shares traded on the same day at the market.
This is while auto sector holds only 5.7 percent of the market cap at the TSE, Donyay-e Eqtesad newspaper reported.
Although TSE’s main index on Monday lost 0.03 percent to end Monday trade at 77,265.3, the carmakers performed quite well as SAIPA Group gave the biggest boost to the benchmark, followed by Iran Khodro.
Meanwhile, more than 1.38 million shares valued at $84.1 million changed hands for the day.
According to the latest statistics by Iran’s Ministry of Industry, Mine and Trade the output of the country’s largest automakers including Iran Khodro, Saipa and Pars Khodro, has increased by 18.7 percent over the last six months.
According to the statistics, the leading carmakers in total produced more than 493,000 cars over the first half of the current Iranian calendar year (started March 20).