Sell-side pressure hit majority of large cap stocks on Tuesday as investors shunned shares of commodity and export-based companies in anticipation of a stronger rial.
The main index of Tehran Stock Exchange, TEDPIX, lost 4,196 points or 0.29% for the day to end at 1,459,500.
The index gives more weight to stocks in giant listed companies, including petrochemical, metal, mineral and refineries.
Unlike the market cap-weighted TEDPIX, the TSE’s equal-weighted index gained 0.35% as most small caps outperformed. Bank and auto stocks were among the winners.
Retail trade rose 6% to reach 38.98 trillion rials ($130 million) on Tuesday. A total 9.41 billion shares worth 42.72 trillion rials ($142m) changed hands at TSE for the day.
Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by National Iranian Copper Industries Company, Persian Gulf Petrochemical Industries Company and Esfahan Oil Refining Company.
Telecommunication Company of Iran gave the biggest boost to the benchmark index, followed by Tejarat Bank, Mellat Bank and Saipa Automaker Company.
IFX Down 0.4%
Iran Fara Bourse main index, IFX, lost 82.32 points or 0.43% to close Tuesday trade at the 19,102.
About 2.76 billion shares and securities worth 193.02 trillion rials ($643m) were traded at the junior equities exchange for the day.
Pasargad Insurance Company, Shiraz Oil Refining Company, Lavan Oil Refining Company and Iranian Ghadir Iron and Steel Company had the most negative impact on IFX.
Saba Tamin Investment Company gave the biggest boost to IFX, followed by Zagros Petrochemical Company, General Mechanic Company and Alborz Distribution Company.
