The benchmark of Tehran's stock market plunged deep into the red on Tuesday but upbeat performance of a giant listed copper company later in the day wiped much of the losses.
Reopening of the ticker of National Iranian Copper Industries Company following a 97% capital increase pared more than 10,000 points of TEDPIX loss, the market-cap weighted benchmark of the Tehran Stock Exchange.
TEDPIX closed the session 5,529.62 points or 0.37% lower to end trade at 1,507,362. As seen in recent sessions, small caps performed better, pushing up the equal-weighted index by 0.37%. The index gives the same weight to all shares irrespective of their market capitalization.
The giant copper company is among the top three TSE-listed companies in terms of market capitalization. It has a market value of 3,220 trillion rials ($12.8 billion).
On Tuesday trade value declined significantly as investors exercised more caution. Total trade value drop by 25% to reach 204.35 trillion rials ($816 million), according to eghtesadnews.
TSE Trade
About 14.47 billion shares valued at 140.98 trillion rials ($542.23m) changed hands at TSE for the day.
National Iranian Copper Industries Company was the biggest winner as its shares went up 14.59% to 16,100 rials per share.
Doroud Cement Company incurred the biggest loss among all TSE-listed companies and went down 4.61% to 9,730 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Social Security Investment Company, Golgohar Mining and Industrial Company and Esfahan Oil Refining Company.
National Iranian Copper Industries Company gave the biggest boost to the benchmark index followed by Bank Saderat Iran, Omid Investment Management Group Company and Iran National Investment Company.
IFX Up 0.25%
Iran Fara Bourse main index, IFX, gained 48.28 points or 0.25% to close Tuesday trade at 19,226.76. About 3.12 billion securities valued at 64.88 trillion rials ($249.56m) were traded at the junior exchange for the day.
Arya Sasol Polymer Company, Saba Tamin Investment Company, Day Bank and Shahid Tondgooyan Petrochemical Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Gohar Zamin Iron Ore Company, Damavand Power Generation Company and Melal Credit Institution.
Caption: TEDPIX closed the session 5,529.62 points or 0.37% lower to end trade at 1,507,362.
