Weekly Market Report. Saturday thru Wednesday inclusive. Contents

Transcription

1 Weekly Market Report Week ended 20 th September, 2017 Saturday thru Wednesday inclusive Contents 1. The status of our Mutual Fund 2. Market Report The Indices Market Analysis and the related schedules Market movements since the lifting of the sanctions Worldwide prices of oil & gas, major currencies precious metals and basic metals Industry Index Information 3.Detailed Market information 4. Economic News

2 The status of our Mutual Fund 1 st Dana Mutual Fund Three months ended 20 th September, ,550,000 3,450,000 3,350,000 3,250,000 3,150,000 3,050,000 2,950,000 Mining of metal ores 14% Telecommunicati on 15% Chemicals 5% Oil Products 3% Base Metals 30% Engineering Services 14% Information and communication 0% Pharmaceuticals 9% holdings 10% 1

3 Comments on the performance of our Mutual Fund The value of our unit for the last three months has risen by 1.8% closing at IRR at the end of the week (last week was IRR ). Similarly our annual return as at the above date has also risen by 4.17% showing a return of 16.83% p.a.(last week was 12.65% p.a.). We currently hold 14 th position amogst our peers. 2

4 2.Market Report-The Indices All Share Index 86, , , , , , , , , , Sep 17-Sep 18-Sep 19-Sep 20-Sep Series1 83, , , , , , Market indices Title September 13, 2017 September 20, 2017 Unit change Change % All-Share Index 83, , , % Fara Bourse Index % Index Of 30 Largest Co. 3, , % Index Of 50 Most Active Co. 3, , % P/E % Daily Average Trading Value Last Week ($) Current Week ($) Amount Of Change ($) Change Percentage 35,927,552 52,974,725 17,047, % 3

5 Market Analysis The all-share index continued its upward trend with great enthusiasm mainly driven by the rise in the world prices of Base Metals and also by the rise in the earnings of refineries. As a result the index rose by an unprecedented record of 2,308 points (+2.8%) at this time of the year closing at 85,831. The index was 4.2% higher than last month and 12.3% higher than last year. The total trading volume of the week reached US$ million showing an increase of 61% against last week. The rise of 2.8% in the above index has been achieved against the rise in the world indices of (NIK) by 2.2%, (DAX) by 0.6% and (DOW) by 0.1%. In the debt market the total trading volume reached US$ million showing 64% rise against last week. Moreover two of the Government sponsored bills Sakhab 4 and 6 along side ( Ajad3) with a floating rate were introduced into the market. During this week the value of US$ parity against IRR dropped slightly by 0.007% closing at IRR38,900. This came about as a result of the removal of the ban on the Iranians individual accounts in China and also the reconfirmation of Iran complying with the nuclear deal by USA. At the close of this week the world prices of Base Metals slightly dropped as the value of US$ increased. The prices of Copper and Zinc dropped to US$6,460 and US$3,150 respectively. The prices of Aluminium and Lead also dropped to US$2,160 and US$2,420 respectively. In the meantime the price of Brent Oil rose by 2% reaching US$56.35 following the report by EIA of lowering the stock reserves of petrol and its extracts. The US Central Bank (FOMC) decided not to raise the interest rate of 1.25% and announced that from October this year will start reducing its balance sheet of 4.5tr. It is expected that there will be a rise in interest rate by December this year (Dot Plot) followed by three incremental increases in next year. As a result the value of US Dollar rose against all major currencies. During this week a finance agreement of one billion euros was signed between several Iranian banks and Uber Bank of Austria under which the fund will be used to finance several development projects which have already been approved to be carried out by both the Government and the private sector. 4

6 On this Saturday being the first day of the week 11,492,822 shares of Industrial and Exporting of Richmak Co will be offered to the public through the secondary market Farabourse for the first time on the basis of a "Book Building". The maximum allowable number of shares per investor has been limited to 200 shares. During the week following the linkage of coal prices with 27% of steel bar price there was a large demand for coal resulting in a rise in the share prices of "Keshregh", "Ktabas" and "Kpravar". There was a large demand for the Computer & other related Activities sector resulting in a rise in the share prices of this sector in particular those of "UP" reaching the ceiling of the day (5%). In Motor Car & Auto Parts sector there was a large demand resulting in some companies shares reaching the ceiling of the day. However in the case of Iran Khodro the question of increasing its share capital was once again raised. In the Base Metals and Refineries sectors we witnessed large demands for the shares across the board some of which reaching the ceiling of the day of 5%. 5

7 Market movements since the lifting of the sanctions The following chart shows the movements in the prices of the shares on the Tehran Stock Market since the lifting of the sanctions: 6

8 Worldwide prices of oil & gas, major currencies, precious metals and basic metals Oil Unit 13/09/ /09/2017 Change% Opec Barrel/Dollar % Petrol Gallon/Dollar % Natural Gas One Million-BTU % Currency (IRR) Currency 13/09/ /09/2017 Change% Dollar Official Rate Free Market Rate 33,460 39,100 33,570 38, % -0.5% Euro 47,270 46, % Pound 52,020 52, % Precious Metal Metal Unit 13/09/ /09/2017 Change% Gold Dollar/ Ounce 1, , % Silver Dollar/ Ounce % Basic Metal Product Unit 13/09/ /09/2017 Change% Aluminum Dollar/ Tonne 2,086 2, % Lead Dollar/ Tonne 2, , % Zinc Dollar/ Tonne 3, , % Copper Dollar/ Tonne 6, , % 7

9 3.Detailed Market information TSE TOP 5 Gainers Symbol MRJZ VLMT PKDZ DSBH ROZD Sector Manufacture of other non-metallic mineral product other Monetary intermediation Manufacture of food products and beverages except sugar manufacture of chemicals and chemical products manufacture of chemicals and chemical products Company Name Marjan Kar Mellat Leasing Pakdis Company Sobhan Pharm Rouz Darou P. close (USD Cent) %change % % % % % TSE TOP 5 LOSERS Symbol PIAZ GSHI Sector Manufacture of food products and beverages except sugar Manufacture of sugar Company Name Piazar Agro. Shirin Khorasan close (USD Cent) %change % % FRIS Manufacture of basic metals Iran Ferr % Manufacture of food products and beverages Behnoush BENN except sugar Iran % Manufacture of other non-metallic mineral LIAZ product Lia company % 8

10 TSE TOP 5 VALUE LEADERS Symbol PNES FOLD Sector Manufacture of coke refind petroleum products and nuclear fuel Manufacture of basic metals Company Name Isf. Oil Ref. Co. Mobarakeh Steel GOLG Mining of metal ores Gol-E-Gohar. SIPA Manufacture of motor vehicles trailers and semi-trailers Saipa PTRZ Manufacture of coke refind petroleum products and nuclear fuel Palayesh Tehran close (USD Cent) Trade Value USD Million

11 4.Economic News Iran, Venezuela Discuss OPEC Output Cut, Global Oil Market Oil ministers of Iran and Venezuela met in Tehran to discuss the implementation of an OPEC agreement to reduce output and the current circumstances in the global oil market. US Ban on Aircraft Sales to Iran Breach of JCPOA: Velayati Ali Akbar Velayati, an international adviser to the Leader of the Islamic Revolution, described a recent decision by the US to block sales of commercial aircraft to Iran as a clear violation of the 2015 nuclear deal between Tehran and world powers. Iran, China Ink $10bln Finance Deal The CITIC Trust, a major Chinese investment company, signed an agreement with five Iranian banks to open a $10bln line of credit to support construction projects in the Islamic Republic. Norway's Energy Firm Says in Talks to Build Solar Power Plants in Iran The CEO of Norway s Scatec Solar said the company is in negotiations to build its first solar power plants in Iran. Iran Inaugurates Hydroelectric Power Plant in Western Province Iran inaugurated the first unit of a new hydroelectric power plant in the western province of Kermanshah that increased the country s nominal capacity to produce electricity to more than 77,100 megawatts (MW). Iran s Petchem Firm Eyes Exporting Polyethylene to Southeast Asia A senior official with Iran s Amir Kabir Petrochemical Company (AKPC) said the firm aims to export 5,000-8,000 mt/month of polyethylene to Southeast Asia in 2018 with Vietnam expected to be the main target market. Iran Begins Exporting Handicrafts to US, Europe, Official Says Iran has recently begun exporting handicrafts to some western countries, including the United States and Britain, an official with the country s Cultural Heritage, Handicrafts and Tourism Organization (ICHTO) announced on Saturday. Iran s Crude Exports to S Korea Rise by 40% in August: Report South Korea s imports of Iranian crude oil rose by 40.2 percent in August compared to the same period last year, a report said. 10

12 No Problem in China s Payment for Iran Petrochemicals: Official An Iranian deputy oil minister said minor issues impeding the payments Iran receives from China for the export of petrochemicals have been resolved. Iran Offers Help for Bolivia in Developing Gas Industry Iran s president highlighted the great potential for cooperation with Bolivia in the gas industry, saying Iranian experts are ready to carry out various gas exploration and production projects in the Latin American country. Iran s Crude Oil Output to Hit 4mln bpd in Coming Months: Official CEO of the National Iranian Oil Company (NIOC) Ali Kardor said the country s oil production would reach 4 million barrels per day (bpd) by the end of the current Iranian year (March 20, 2018). Iran Eager to Work with German Entrepreneurs An Iranian minister expressed the country s willingness to develop a close partnership with German entrepreneurs and industry leaders. 11