Tehran stocks opened trade on Monday in positive territory only to jump later into the red under sell-side pressure.
The main index of Tehran Stock Exchange, TEDPIX, gained 10,000 points at the beginning of the session but pared much of the gains and closed more than 10,000 points lower.
TEDPIX lost 0.67% for the day to end trade at 1,512,962 points. The sell-off was led by large cap stocks. However, the equal weighted index closed 0.15% higher amid stronger demand for shares of small cap companies. The index gives the same weight to all shares irrespective of their market capitalization.
On Monday, 214 ticker symbols experienced price growth, which represent 44% of the total stocks listed at the TSE and the junior equity exchange Iran Fara Bourse.
Top gainers were agriculture, telecommunication, banks and ceramic companies. The minerals, refinery and energy and transportation stocks took a drubbing.
The value of trade amounted to 273 trillion rials or 20% higher compared to a session earlier, according to the Persian economic website eghtesadnews.
TSE Trade
About 22.64 billion shares valued at 204.24 trillion rials ($785.57 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Behnoush Iran Company was the biggest winner as its shares went up 8.33% to 107,850 rials per share.
Esfahan Sugar Company incurred the biggest loss among all TSE-listed companies and went down 6.34% to 226,720 rials per share.
Tamin Petroleum and Petrochemical Investment Company contributed the most to the benchmark's fall, followed by Mobarakeh Steel Company, Golgohar Mining and Industrial Company and Chadormalu Mining and Industrial Company.
Mapna Group gave the biggest boost to the benchmark index followed by Bank Saderat Iran, Tejarat Bank and Khouzestan Steel Company.
The Price Index lost 2,653.62 points, or 0.67% to close at 395,668.47. The First Market Index went down 5,665.96 points, or 0.51% to post 1,110,339.19. Second Market Index was down 26,764.11 points, or 0.87% to reach 3,042,802.94.
The Industry Index lost 12,394.55 points or 0.92% to register 1,330,314.69. The Free Float Index was down 7,670.48 points to hit 2,064,873.27.
TSE 30 went down 598.51 points to settle at 79,203.42 and the TSE 50 ended 527.81 points lower to finish at 58,803.47.
IFX Down 0.05%
Iran Fara Bourse main index, IFX, lost 9.22 points or 0.05% to close Monday trade at 19,192.73.
About 4.25 billion securities valued at 69.25 trillion rials ($266.37m) were traded at the junior exchange for the day.
Saman Etkaee Insurance Company had the highest number of traded shares as 355.5 million of its shares worth 177.75 billion rials ($683,650) were traded.
Arya Sasol Polymer Company, Zagros Petrochemical Company, Esfahan Steel Company and Saba Tamin Investment Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Gohar Zamin Iron Ore Company, Lavan Oil Refining Company and Kowsar Insurance Company.
