Baku, Azerbaijan, Dec. 8
By Khalid Kazimov - Trend:
Currently the prices of shares in Iranian stock markets are close to the intrinsic value of companies, an Iranian financial analyst told Trend.
Alireza Kadivar denied the idea that bubbles have recently caused the prices of some securities to grow in Iranian stock markets and said following the latest round of Iranian presidential election in 2013 the market became bullish as hopes were created that the sanctions would be lifted soon and fresh economic and industrial policies adopted by the new government would change the situation in the country quickly.
Between August 2013 when President Hassan Rouhani took office and December same year, main index in stock market grew by 100 percent which can be termed as bubble. It means that the shares were traded in higher prices, he added.
Denying that there are serious obstacles against foreign companies to hold shares in Iranian stock markets he named Saudi Arabia’s Savola Group and the German Siemens as example of foreign shareholders in the country.
He touched upon the stock prices of petrochemical companies in Iran and said the slump of oil prices in the global markets did not have an impact on the prices of some Iranian petrochemicals and also the shares of the companies as dollar prices grew against rial.
In addition to the dollar prices domestic excess demand for petrochemicals has prevented sharp decline in prices.
Iran expects the international sanctions imposed by west on its financial and industrial sectors to be lifted in early 2016 as it is adhering to the terms of a milestone nuclear accord inked between Tehran and the world powers in July.
The rising trend of US dollar continues in Iran’s free market as the US currency sold at 36,164 rials on Dec.8 compared to 36,074 Dec.7.
The Central Bank of Iran has put the official rate of US dollar, at 30,093 rials since Dec. 5.
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