EghtesadOnline: Reports indicate that 3.23 billion bonds worth 15.93 trillion rials ($111.05 million) were traded on farabourse markets in 668,000 deals during the past trade week (November 3-6), registering 2% and 4% decline in volume and value compared to the week before.
Trading at Tehran Stock Exchange and Iran Fara Bourse starts on Saturday and ends Wednesday. Last Wednesday, Nov. 7, was a public holiday in Iran.
The number of deals rose by 44% week on week. Compared to the corresponding period last year, both volume and value of trade witnessed increase of 81% and 108% respectively, while the number of deals went up by 87%, IBENA reported.
First market trade stood at 317 million shares worth 1.34 trillion rials ($9.34 million), while 930 million shares worth 3.92 trillion rials ($27.33 million) changed hands in the second market, Financial Tribune reported.
In addition, seven million bonds worth 5.54 trillion rials ($38.64 million) were traded in the debt market, indicating 25% and 23% rise in volume and value respectively.
Small-scale trading on the share market amounted to 8.13 trillion rials ($56.67 million). Basic metals had the lion’s share in trade value with 18%, followed by petrochemicals with 14%, and hotel and restaurant category with 12%.
Iran Fara Bourse recently marked its 10th anniversary. The IFB deputy for market development, Reza Gholamalipour, said the junior market has always strived to offer new financial instruments in the capital market over the years.
Iran Fara Bourse’s main index IFX has witnessed 85% growth since the beginning of current fiscal (March) until the end of past trade week. Trading amounted to 560 trillion rials ($3.9 billion) during the aforementioned period, he told Securities and Exchange News Agency (SANA).
Gholamalipour said growth in the market indices is due the variety of companies and instruments present in the capital market in recent years.
Referring to IFB’s anniversary, Ali Naqavi, member of board of directors of IFB said diversity in financial instruments in the capital market is a declared policy priority of the IFB. “Knowledge-based companies and bonds are considered as IFB strengths.”
Speaking to SENA, he said organizations, including Securities and Exchange Organization, Central Securities Depository of Iran, and Tehran Securities Exchange Technology Management Co., are focused in diversity in the financial markets.