Trends Magazine MENA

Trends Magazine MENA

  • About Us
    • Message from Executive Editors
    • What We Do At Trends Magazine
  • Trend”ing”s
    • Keep an Eye on…
    • Trends Recommends
  • Issue Archive
    • Issue 1
      • Business
      • Life Style
    • Issue 2
      • Business
      • Life Style
    • Issue 3
      • Business
      • Life Style
    • Issue 4
      • Business
      • Life Style
  • Business
    • Business & Economy
    • Tech & Innovation
    • Energy
    • Industrial & Mining
    • Construction & Real Estate
    • Agriculture & Environment
    • Retail & FMCG
    • International
    • Business Calendar & Events
  • Lifestyle
    • Fashion
    • Art
    • Cinema, Music & Photography
    • Travel
    • Sport
  • Contact Us
    •  
      trendzmena.com

Tehran Stock Exchange Overview

17 January 2022
Short Link
Share it

Tehran Stock Exchange continued its corrective pattern in the first six months of 2021, registering a loss of 13% in hard currency terms. TSE overall index declined 7% in April and 5% in May in IRR terms. The IRR exchange rate appreciated from 258,000 IRR per USD in December 2020 to 243,200 IRR per USD ending May 2021. The appreciation of the IRR stems from higher hard currency inflows to the country due to both higher commodity prices and more oil sales (mainly to China).

Performance of TSE Overall Index (May 2021 vs. May 2020)

In terms of the best performing sectors on yearly basis, Basic Metals, Mining Ore, Chemical and Diversified Holdings led the way in May. Their related sub-indices surged by 56%, 44%, 32 and 22% respectively in IRR terms. This rise was due to a rebound in global commodity prices, boosted by demand from China. Steel prices in Iran rose by more than 10% over the course of the month, which in turn fueled an increase in steelmakers’ shares on the TSE. For example, Mobarakeh Steel Company – the first and largest listed company by market cap on the TSE – rose 9% in May of this year in market cap. Chadormalu Mining and Industrial Co., the largest producer of iron ore in Iran, was also among the top performers. Its stock price rose by 8% over the same period, reflecting the positive trend in global iron ore prices so far this year.

Performance of TSE Sectors in IRR (May 2021 vs. May 2020)

In the domestic credit market, the backdrop has improved as the yields of short-term government debt securities (T-bills) fell below 18%. Declining interest rates for listed debt securities have accelerated recently as inflation has showed signs of cooling down. The latest inflation readings showed that the monthly change of the CPI has fallen to 0.8%, the lowest level since January 2020. Money supply growth also plummeted to 0.6% month-on-month in May 2021. According to the latest data released by the CBI this is the lowest it has been since April 2019.

Monthly Inflation Rate

With the current prudent monetary policy, we expect the year-on-year inflation to fall below 30% by the year end. This would provide a more stable environment for equity investors in terms of the macro-economic situation.

 

Monthly Inflation Rate

 

Managed Account Performance vs. Benchmark (Rebased in IRR)

 

TURQUOIS PARTNERS

 

 

To obtain more information on Turquoise Partners products, please contact us through
our website: assetmanagement@turquoisepartners.com

 

 

 

Tehran Stock Exchange


Related posts:
iranGrain 2022 Conference Hopes to Address Global Grain Supply Concerns
iranGrain 2022 Conference Hopes to Address Global Grain Supply Concerns
TGAC is now using Solar Energy
TGAC is now using Solar Energy
Iran’s Presence at Dubai Expo 2020
Iran’s Presence at Dubai Expo 2020
SARMAD Iron and Steel Complex
SARMAD Iron and Steel Complex
Subscribe
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments
Technology and Innovation in the MENA Region
Technology and Innovation in the MENA Region
Doing Business In and With Iran
Doing Business In and With Iran
Iran’s Beverage Industry Overview
Iran’s Beverage Industry Overview
EU Incentives for Iran after the Renewed Sanctions
EU Incentives for Iran after the Renewed Sanctions
Iran-China Technology Cooperation Prospects
Iran-China Technology Cooperation Prospects
About Us
About Us
Trend”ing”s
Trend”ing”s
Business
Business
Lifestyle
Lifestyle
Contact Us
Contact Us
Facebook
Instagram
Linkedin
Twitter
© 2020 Trends Magazine All Rights Reserved.
طراحی سایت: ندرلو
Web Design: Naderlou
wpDiscuz