Most major market indicators dropped in Tehran's share market Monday driven by excessive offers of large cap stocks.
The market cap-weighted index of Tehran Stock Exchange, TEDPIX lost 17,427 points or 1.39% for the day to end trading at 1,233,614.
Many penny stocks and small caps performed comparably better as seen in smaller losses for the equal-weighted index. Down 0.44%, the index gives the same weight to all shares irrespective of their market cap.
About 8.82 billion shares valued at 99.13 trillion rials ($413.07 million) changed hands at TSE for the day. Machine Sazi Arak Company incurred the biggest loss among all TSE-listed companies and went down 6.48% to 5,480 rials per share.
National Iranian Copper Industries Company contributed the most to the benchmark's fall, followed by Persian Gulf Petrochemical Industries Company, Mobarakeh Steel Company and Pasargad Bank.
Islamic Republic of Iran Shipping Lines Company gave the biggest boost to the benchmark index followed by Omid Investment Management Group Company, Tejarat Bank and Sepid Farab Kavir Steel manufacturing Company.
IFB Down 1.15%
Iran Fara Bourse main index, IFX, lost 206.62 points or 1.15% to close Monday trade at 17,836.93. About 2.2 billion securities valued at 114.98 trillion rials ($479.12m) were traded at the junior exchange for the day.
Pasargad Insurance Company, Minoo Industrial Group Company, Arya Sasol Polymer Company and Sepehr Saderat Financial Group Investment Company had the most negative impact on IFX.
Saba Tamin Investment Company gave the biggest boost to IFX followed by Gohar Zamin Iron Ore Company, Damavand Power Generation Company and Tejaratno Insurance Company.
