TSE index flat in the week; inflation heading below 10 per cent

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The Tehran Stock Exchange (TSE) All-Share Index slipped by 0.2 per cent in the week ending 25 November to close at 62,734, according to the weekly economic report issued by Iran’s Turquoise Partners.

Mobile Telecommunica­tion Company of Iran (HMRZ), Esfahan Oil Refinery (PENS), Parsian Oil & Gas Development Comapny (PASN) and Persian Gulf Petrochemical Industries Company (PKLJ) were the main movers of the TEDPIX in the week.

The TSE30 index of the 30 largest quoted companies slipped by 0.5 per cent in the week to close at 2,658. Analysts say the fragile com­modities prices globally have affected the major companies listed on the TSE.

The average daily traded volume rose by 78 per cent compared with last week to $42 mil­lion. Volumes were inflated by block trades and $46 million worth of Istisna Sukuk on sold on Monday.

The Central Bank of Iran, weekly report showed that the year-on-year in­flation rate has fallen to 10.1 per cent. The Iranian economy has witnessed a significant drop in the inflation rate since the election of President Rouhani in July 2013 when it was 45 per cent.