Tehran stocks fell on Tuesday after investor sentiment paled over significant drops in foreign currency prices. The benchmark of Tehran Stock Exchange, TEDPIX, lost 8,642 points and dropped 0.45% for the day to close session at 1,916,202 points.
The downturn was led by large-cap stocks, mainly including export-based companies, which grew substantially in recent days fueled by soaring forex rates. With the slide in currency rates growing deeper, shares of giant listed companies also fell.
Decline of the dollar plus the TSE benchmark approaching 2 million points as a psychological resistance ahead, seems to be the main factors pulling down the share market.
Net retail trading value stood at 269.34 trillion rials ($1.2 billion) on Tuesday, 8.4% higher than the last trading session.
About 8.5 billion shares valued at 213.8 trillion changed hands at TSE for the day.
Tehran Oil Refining Company was the biggest winner as its shares went up 12.87% to 42,880 rials per share.
Dana Insurance Company incurred the biggest loss among all TSE-listed companies and went down 6.28% to 10,890 rials per share.
Esfahan Oil Refining Company contributed the most to the benchmark's fall, followed by Parsian Oil and Gas Development Company, Tamin Petroleum and Petrochemical Investment Company and Golgohar Mining and Industrial Company.
Tehran Oil Refining Company gave the biggest boost to the benchmark index, followed by Social Security Investment Company, Mobarakeh Steel Company and Islamic Republic of Iran Shipping Lines Company.
IFX Down 0.91%
Iran Fara Bourse main index IFX lost 179.77 points or 0.91% to close Tuesday trade at 19,543.53.
About 3.52 billion securities valued at 133.52 trillion rials were traded at the over-the-counter exchange for the day.
Saba Tamin Investment Company, Hormozgan Steel Company, Damavand Power Generation Company and Jahrom Power Plant Development Company had the most negative impact on IFX.
Esfahan Steel Company gave the biggest boost to IFX, followed by Shahid Tondgooyan Petrochemical Company, Arya Sasol Polymer Company and Middle East Mines and Mineral Industries Development Holding Company
