A glance at Iranian equity market’s weekly performance
Baku, Azerbaijan, Sep. 8
By Farhad Daneshvar – Trend:
Although at a slower pace, Tehran Stock Exchange (TSE) extended its positive run over the past Iranian week to September 8.
The main index of TSE edged up 0.5 percent, resting at 83,675 on the last day of the trade week Sept. 6.
Despite the fact that metal and mining sector witnessed considerable gains over the previous weeks, investors appeared more cautious on the commodity stocks in the past week.
Turquoise Partners in a recent report has forecast a slight adjustment in share prices before further possible rises on the back of higher global prices.
Presumably due to a speculative demand for Iran Carton Co., Paper Products with a 6.3 percent rise topped as the best performing sector at the TSE over the past week as about 10 percent of its shares were traded, almost twice its average weekly volume for the last three months.
Oil Products, with a gain of 3.8 percent, ranked as the second top performing major sector, indicating a potential possibility to become the market leader.
The automotive sector lost 7.2 percent to become the weakest sector of the market over the past week.
Average Daily Trade Volume (ADTV) slipped 26 percent to $50 million over the week.