A rally in the early hours of trade on Tuesday in Tehran’s share market gave way to a sell-off later amid renewed uncertainty among investors.
The Tehran Stock Exchange benchmark, TEDPIX, lost 20,748 points or 1.68% to end trading at 1,215,033.94. The sell-off swept through both small and large caps pulling the equal-weighted index down 1.3%. Unlike the market cap-weighted TEDPIX, the former index gives the same weight to all shares irrespective of market cap.
Capital outflow has continued by nervous retail investors for three sessions in a row. On Tuesday, net capital outflow amounted to 10.82 trillion rials ($48 million).
Prices of 373 ticker symbols declined representing 76% of the total tickers at both the TSE and the junior exchange Iran Fara Bourse.
About 8.91 billion shares valued at 107.58 trillion rials ($467.75 m) changed hands at TSE for the day. Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Behbahan Cement Company was the biggest winner as its shares went up 4.99% to 122,620 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by National Iranian Copper Industries Company, Social Security Investment Company and Tamin Petroleum and Petrochemical Investment Company.
Esfahan Oil Refining Company gave the biggest boost to the benchmark index followed by Tehran Oil Refining Company, Mines and Metals Development Investment Company and Tabriz Oil Refining Company.
The Industry Index lost 18,322 points or 1.71% to register 1,055,400.23. The Free Float Index was down 25,488.71 points to hit 1,740,880.43.
TSE 30 went down 991.16 points to settle at 59,958.05 and TSE 50 ended 842.17 points lower to finish at 44,574.85.
IFB Down 1.66%
Iran Fara Bourse main index IFX lost 302.99 points or 1.66% to close Tuesday trade at 17,899.5. About 1.76 billion securities valued at 46.42 trillion rials ($201.82m) were traded at the junior exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 133.7 million shares worth 626.52 billion rials ($2.72 m) were traded.
Arya Sasol Polymer Company, Saba Tamin Investment Company, Esfahan Steel Company and Zagros Petrochemical Company had the most negative impact on IFX.
Bahman Diesel Company gave the biggest boost to IFX followed by Ghadir Petrochemical Company, Chlor Pars Company and Kish Parsian Electronic Commerce Company.
