Markets in Brief 23.11.2018

The 8th Iranian month, Aban, has proved to be the worst for Tehran Stock Exchange (TSE) over the past four years. Despite flourishing market last summer, during the last month the market main index, TEDPIX has lost 12,066 points, i.e. registering 6.4 percent drop.

Main reasons for this drop are difficulties to export goods for Iranian export-oriented companies due to return of the US sanctions. In this regard, oil and petrochemical companies registered the most drop in their group-index, falling 22%.

Losing hope in future, several individual investors have pulled out from the market during the month of Aban, pushing to sell their shares.

Some smaller industries, however, grew quite significantly. Agricultural industrial group index rose by 73%, followed by telecommunication, up 37% and garment industries 18%.

For ups and flops this week, see the chart above.

Related article: Markets in Brief 16.11.2018