Gmail - Iran Weekly Market Report - 9 April 2015:
"The TSE All-Share Index ended the first week of April at the 70,648 level, growing by 7.5%, as Iran and the EU3+3 reached an agreement on the framework of a comprehensive nuclear deal. The All-Share Index experienced a constant upward trend during past three weeks; which led to its 13% hike since March 21, 2015 (start of the Iranian year). The Tehran Stock Exchange’s main index hadn’t reached levels above 70,000 since mid-December 2014; from a technical point of view, the next resistance level stands at 75,400 (high experienced in October 2014). As optimism regarding the nuclear talks has increased amongst investors, the monthly volatility of the TSE All-Share Index has seen a 36% jump since March 21, 2015; while the index measure is already 8% higher than its 50 day EMA.
At the same time, TSE30, the index tracking the 30 largest listed companies by market cap on the Tehran Stock Exchange experienced a 16% increase since the Iranian New Year. The TSE30 index reached 3,342 by the end of Wednesday’s trading session as blue-chip stocks had a stronger performance compared to other stocks on the market. Since June 2014, the TSE30 index has been moving below the 3,500 level; however, the index can start a new phase of recovery if it breaks the resistance level of 3,500 from a technical perspective.
From the beginning of the Iranian year, both trade value and volume have been experiencing a significant surge, lifting the market up from its stagnating performance in the previous year. This week, Iran Khodro, Saderat and Mellat Banks had the largest trading value compared to other stocks on the TSE. Their share prices also increased by 10%, 14% and 18% respectively to close at 9.5, 3.2 & 8 USD Cents."
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