Tehran Stock Exchange ended trading Wednesday on a flatline following a drubbing in the foreign exchange market.
The steep decline in currency prices bucked a bullish trend that dominated the stock market for 17 trading sessions.
The main index of TSE TEDPIX lost 47.83 points, or 0.01%, on Wednesday to end trading week at 339,386.6. Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Tehran’s stock market had kept the same pace as the currency market over the past month as investors eyed rising prices for stocks of export-based companies in light of the weakening rial.
The US dollar fell more than 5% on Wednesday, and was traded for 132,000 rials, after soaring above the psychological level of 140,000 rials a day earlier.
About 3.39 billion shares valued at 19.79 trillion rials ($148.24 million) changed hands at TSE for the day.
Iran Automobile Parts Industrial Group Company was the biggest winner as its shares went up 8.53% to 8,133 rials per share.
Zagros Pharmed Pars Pharmaceuticals Company incurred the biggest loss among all TSE-listed companies and went down 5% to 17,546 rials per share.
Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by Tehran Oil Refining Company, Bank Mellat and Bank Pasargad.
Tamin Petroleum and Petrochemical Investment Company gave the biggest boost to the benchmark index, followed by MAPNA Group, Iran Chemical Industries Investment Company and Bandar Abbas Oil Refining Company.
The Price Index lost 12.79 points, or 0.01% to close at 90,904.6.
The First Market Index went down 268.22 points, or 0.11% to post 244,209.8. Second Market Index increased by 958.94 points, or 0.14% to reach 701,236.9.
The Industry Index increased by 302.32 points or 0.10% to register 303,495.3. The Free Float Index was down 753.28 points to hit 400,567.25.
TSE 30 lost 40.14 points to settle at 14,326.1 and the TSE 50 ended 9.05 points lower to finish at 12,923.1.
IFX Down 0.14%
Iran Fara Bourse main index IFX lost 6.32 points or 0.14% to close Wednesday trade at 4,385.65.
About 1.94 billion securities valued at 14.19 trillion rials ($106.35 million) were traded at the over-the-counter exchange for the day.
Middle East Mines & Mineral Industries Development Holding Company, Zagros Petrochemical Company, Shiraz Oil Refining Company and Pars Paper Industrial Group Company had the most negative impact on IFX.
Hormozgan Steel Company gave the biggest boost to IFX, followed by Esfahan Steel Company, Marun Petrochemical Company and Goharzamin Iron Ore Company.
