Tehran, Iran, August 4
By Mehdi Sepahvand –- Trend:
Systemic risk has been so prevalent in Iran that the country’s capital market has grown numb to it, said Ebrahim Ghezel Gol, CEO of Sahm Ashena Brokerage.
“We have essentially grown up with systemic risk and are used to it, whereas in other countries when something, such as a terrorist attack, takes place, their markets show strong reaction,” Ghezel Gol told Trend August 4.
“Therefore,” he noted, “current developments, such as the prospective coming of a new administration or a recent set of sanctions by the United States, have been of little influence to the capital market in Iran.”
According to Ghezel Gol, the only considerable recent improvement for Iran’s capital market was associated with the external factor, such as the rise of prices of metals on the global market.
The price-to-earnings (P/E) ratio of the Tehran Stock Exchange (TSE) reached 6.70 in the Iranian month of Tir (July 22-August 22).
Data released by TSE’s statistics office is based on the market value of 287 companies listed on Iran’s largest equity market. Total market value of the reviewed companies was estimated at 3 quadrillion rials, with the earnings estimate of 455 trillion rials.
The report shows that the 29 companies operating in the chemical products group had a total market value of 655 trillion rials, ranking first amongst the other TSE groups.
Basic metals group ranked second, holding a market value of 340 trillion rials, and the banks and credit institutions group ranked third, holding a market value of 309 trillion rials.