Extending a losing streak for the third day, the main indicators of Tehran's share market dived deeper at the close of trading week on Wednesday.
The main gauge of Tehran Stock Exchange, TEDPIX, lost 32,417 points to fall below the critical 1.2 million points. The market cap-weighted TSE benchmark lost 2.7% to close trading at 1,173,050 points.
The equal weighted index closed at two-month low, losing 1% on Wednesday. The index gives the same weight to all shares irrespective of their market cap.
Prices in 70% of the shares at both the TSE and the junior exchange Iran Fara Bourse declined comprising 338 ticker symbols, according to eghtesadnews website.
Tehran's share market has entered a sideways phase after solid gains in the first few months of the current year that ends in March with the TEDPIX vacillating between 1.2 million to 1.5 million points in four months.
TSE Trade
About 8.74 billion shares valued at 85.84 trillion rials ($357.67 million) changed hands at TSE for the day. Pars Animal Food Company was the biggest winner as its shares went up 5% to 410,450 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Mobarakeh Steel Company, Social Security Investment Company and National Iranian Copper Industries Company.
Sepid Farab Kavir Steel manufacturing Company gave the biggest boost to the benchmark index followed by Iran Khodro Investment Development Company, Dr. Abidi Pharmaceutical Company and Iran Kish Credit Card Company.
IFB Down 1.3%
Iran Fara Bourse main index IFX lost 234.98 points or 1.33% to close Wednesday trade at 17,434.04. About 2.47 billion securities valued at 157.26 trillion rials ($655.25m) were traded at the junior exchange for the day.
Middle East Mines and Mineral Industries Development Holding Company, Arya Sasol Polymer Company, Zagros Petrochemical Company and Saba Tamin Investment Company had the most negative impact on IFX.
Kowsar Insurance Company gave the biggest boost to IFX followed by Iran Cultural Heritage and Tourism Investment Group Company, Damavand Power Generation Company and Daroupakhsh Distribution Company.
