Tehran stocks opened Monday in upbeat mode but sell-side pressure mounted in the middle of trade pushing the majority of large cap stocks into negative territory.
The benchmark of Tehran Stock Exchange, TEDPIX, closed flat for the second straight session. The market cap-weighted index shed 129.85 points or 0.01% ending the day at 1,426,778.77.
As in most recent sessions, the TSE’s equal-weighted index improved slightly gaining 0.35%, reflecting the performance of small caps.
Retail trade rose 26% on the session before to reach 28.58 trillion rials ($98 million) on Monday.
A total of 4.43 billion shares valued at 44.6 trillion rials ($153.8m) changed hands at the TSE. The Telecommunication Company of Iran was the big winner as its shares went up 6.78% to 7,400 rials per share.
Arta Ardebil Cement Company incurred the biggest loss among all TSE-listed companies and went down 5% to 36,480 rials per share.
Pardis Petrochemical Company contributed the most to the benchmark's fall, followed by Golgohar Mining and Industrial Company, Persian Gulf Petrochemical Industries Company and Chadormalu Mining And Industrial Company.
The Telecom Company of Iran gave the biggest boost to the benchmark index, followed by Mobile Telecommunication Company of Iran, Islamic Republic of Iran Shipping Lines Company and Esfahan Steel Company.
IFX Up 0.09%
Iran Fara Bourse main index, IFX, gained 17.82 points or 0.09% to close Monday trade at the 19,195.78.
About 7.33 billion shares and securities were traded at the junior equities exchange for the day.
Pasargad Insurance Company, Gohar Zamin Iron Ore Company, Iran Cultural Heritage and Tourism Investment Group Company and MAPNA Asaluyeh Power Generation Company had the most negative impact on IFX.
Zagros Petrochemical Company gave the biggest boost to IFX, followed by Melal Credit Institution, Pouya Zarkan Agh Darreh Company and Iranian Ghadir Iron and Steel Company.
