IFX Kept Rising To a New Record High This Week

Initial public offerings of Islamic Treasury Bills, “Akhza622” and “Akhza621” were conducted this week on IFB’s Structured Financial Products market and “Akhza621” discovered 966,000 rials.

For the week ended June 22, Iran Fara Bourse overall index, IFX, shot up about 88 points or 8% to close at 1241.6 which is a new historic high. A total number of 2,723 million sheets worth 12,523 billion rials were traded this week on IFB as compared to a total of 2,475 million sheets valued at 10,728 billion rials that exchanged last week indicating 10% and 17% increase in volume and value respectively.

Meanwhile, a total of 1,785 million shares worth 3,818 billion rials in almost 19,000 deals were traded in IFB’s First and Second market this week by investors on the floor of the Exchange in contrast to a total of 1.764 million shares valued at 2,906 billion rials that exchanged hands last week.

Also traded during this week on Structured Financial Products market (comprised of ETF, Mortgage Right and Debt Market tradings) were a total of 86 million notes valued at 7,392 billion rials and IFB Base markets hosted the trading of 852 million shares worth 1,311 billion rials this week.

Trading volume and value for Exchange Traded Fund (ETFs) increased impressively by 91% and 109% respectively.

Base Metals and Chemical Products are the top two sectors in terms of the value of trades in the equity market (excluding block trades) contributing 30% & 14% to the total amount (value of trades).