Tehran SE Performance in 2014

Thursday, 15 January 2015

Total equity trading volume of the Exchange shrank about 4 percent in 2014 and surpassed 166 billion shares, comparing 174 billion shares in 2013. The downturn also occurred in Tehran Stock Exchange (TSE)’s equity trading value. TSE’s total equity turnover was IRR 650.5 trillion in 2014, 25 percent below IRR 868 trillion in 2013. Likewise, number of trades fell about 2.9 percent in 2014 to be around 14.3 million transactions.
At the end of 2014, TSE’s total market capitalization exceeded IRR 3,120 trillion, which was 27 percent lower than the equity market’s capitalization in its preceding year.
Seven new companies joined TSE in 2014, four companies through IPOs, and 3 others transferred from Iran Farabourse (SME’s Exchange); the figures were exactly the same as in 2013.
However, debt instruments trading value and volume were both upward in 2014; the Exchange’s bond trading volume grew about 56 percent in 2014 to reach 15.3 million securities at the value of IRR 15,348 billion; the figures were respectively 9.8 million bonds and IRR 9,755 billion in 2013.
Derivatives market at Tehran Stock Exchange had a more complicated story in 2014; while the futures (SSF) market lost some of its trading share at TSE, the embedded put option contracts had a remarkable performance last year. SSF market’s trading value and volume diminished both 48 and 73 percent in 2014 to amount IRR 10,080 million for 174 contracts, compared with IRR 19,480 million and 647 contracts in 2013. But the options trading value and volume climbed excessively from only IRR 3 million and 64,830 contracts in 2013 to IRR 12,391 million and 180.4 million contracts last year.
ETFs for the first time were started trading at TSE on January 2014. During the year ETF’s trading turnover was IRR 985 billion for 97 million units.
TSE’s broad index (TEDPIX) lost about 21 percent in 2014 and closed at 68,973. The index closing figure for 2013 was 87,452.
Iran’s Central Bank exchange rate for each US Dollar was IRR 27,138 in 2014 and IRR 24,774 in 2013.