Business And Markets

TEDPIX Ends 0.6% Lower

TEDPIX Ends 0.6% Lower
TEDPIX Ends 0.6% Lower

After slight gains last week, the Tehran stock market opened trading week Saturday under sell-side pressure to close in negative territory for two sessions in a row.  
The main index of Tehran Stock Exchange, TEDPIX, shed 6,973 points or 0.61%, closing the session at 1,144,873. The equal-weighted index also slipped 0.6% as selloff swept through both large and small caps.
Selloff was partially fuelled by decline in foreign exchange rates on Saturday that normally impacts sentiment of investors of commodity stocks. The US dollar lost about 1.2% in Tehran’s free market to buy 236,300 rials.
About 5.41 billion shares worth 33.56 trillion rials ($139.86 million) changed hands at TSE on Saturday.


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