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Code: 52857 Visited: 39 Publish Date: Nov 10 2018 - 2:28
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Capital Market
Will Capital Market Suffer From Sanctions?
Tehran, Nov.10 (SENA) - Tehran Stock Exchange and Iran Fara Bourse Listed companies’ profits for the first half of the current Iranian year (March 21) have grown 75% compared to the same period last year, reaching 336,000 billion rials.

Tehran, Nov.10 (SENA) - Tehran Stock Exchange and Iran Fara Bourse Listed companies’ profits for the first half of the current Iranian year (March 21) have grown 75% compared to the same period last year, reaching 336,000 billion rials. This increase is associated with Iranian rial depreciation and higher global prices of raw materials. “The two factors will bring even higher revenues for the companies next season,” said Vali Nadiqomi, a market expert. Considering the growing revenues of the companies, the expert underlined that falling share prices will differentiate the shares with robust fundamentals from those that surged merely due to the market excitement.

Nevertheless, the expert referred to multiple systematic risks such as sanctions’ long-term impact and possible new energy pricing by the government. Although the Iranians are used to the long-existing concept of sanctions, the effect of the new round remains to be seen. Nadiqomi noted that it mainly depends on Iran’s oil revenues, which is unlikely to dip immensely like 2012, as major world powers are not supporting the US with the sanctions. The research arm of the Parliament has also reported that the sanctions will have a long-term effect in that they will affect oil export, petrochemicals sale and imported goods, all of which lowers economic growth. The beating heart of Iran’s economy, oil export, will indeed be under pressure.

Despite possible strains, the expert believes the export revenues of the government, if the current global oil prices remain stable, would effectively support its current and development expenditures. Adding assistance by the private sector, the damage of the sanctions could be controlled.

 

 
By: Security and Exchange News Agency (SENA)
 
 
 
 
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