Extending losses in the previous session, Tehran stocks plunged at the close of trade on Wednesday as panic selling took hold.
The market cap-weighted benchmark of Tehran Stock Exchange, TEDPIX, lost the critical 1.4 million points level giving up 1.5%. The benchmark shed 21,236.26 points to end trade at 1,397,446 points.
As with most of previous sessions, small caps were the biggest losers dragging down the TSE’s equal-weighted index 2.2%. The index better reflects the performance of stocks of small-sized listed companies.
Almost 90% of the shares were in the red on Wednesday, including 444 active tickers while only 47 tickers saw price rises.
Retail investors have stuck to the exits for eight consecutive sessions, registering net capital outflow of 7.6 trillion rials ($28 million) for the day. Trade by retail investors dropped 16% to reach 48.4 trillion rials ($180m).
About 6.4 billion shares worth 52.03 trillion rials ($192m) changed hands at TSE for the day.
Trading at TSE and the junior exchange Iran Fara Bourse starts on Saturday and ends Wednesday.
IRCA Part Sanat Company was the biggest winner as its shares went up 7.48% to 5,030 rials per share.
Kharazmi Investment Company incurred the biggest loss among all TSE-listed companies and plunged 10.32% to 4,780 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Parsian Oil and Gas Development Group Company, Esfahan Oil Refining Company and National Iranian Copper Industries Company.
Amin Investment Bank gave the biggest boost to the benchmark followed by Iran Aluminium Company, Kashan Amir Kabir Steel Company and Fanavaran Petrochemical Company.
IFB Down 2%
Iran Fara Bourse main index, IFX, lost 416.59 points or 2.03% to close Wednesday trade at 20,067. About 2.97 billion securities valued at 190.34 trillion rials ($704.98m) were traded at the junior exchange for the day.
Day Bank had the highest number of traded shares as 593.4 million of its shares worth 568.66 billion rials ($2.1m) were traded.
Pasargad Insurance Company, Arya Sasol Polymer Company, Gohar Zamin Iron Ore Company and Iran Fara Bourse had the most negative impact on IFX.
Sirjan Jahan Steel Complex gave the biggest boost to IFX, followed by Minoo Industrial Group Company, Sepehr Saderat Financial Group Investment Company and Ghaed Basir Petrochemical Company.
