5 Brokerages Handle 27% of Total Trade

According to data published by the Tehran Stock Exchange, five brokerage firms accounted for more than 27.1% of total trade in the capital market during the first two months (March 21-May 20) of the current fiscal.

Mofid Securities Company was the leading brokerage firm during the period, processing 11.78% of the trade followed by Agah Brokerage with 5.80%, Pasargad Brokerage Company with 3.81%, Farabi Brokerage and Securities with 2.89%, and Refah Bank Brokerage Company with 2.88%.

Online trading, worth 427 trillion rials ($3.11 billion), accounted for 47% of the total capital market trade during the two months.

Out of 108 brokerages in the market, 104 offered online services. The top five online-trading brokerages were Mofid Securities Company with 22.18% share, Agah Brokerage with 10.23%, Farabi Brokerage and Securities 4.86% of online trade, Mobin Sarmayeh Brokerage with 3.14 %, and Tadbirgaran Farda Brokerage Company with 2.90%.

Total value of stock market trade amounted to 912 trillion rials ($6.65 billion) in the two months. Retail trade accounted for 92% of the total trade while wholesale traders had a paltry 2% share.