The Tehran share market incurred more losses on Tuesday, extending a losing streak into the third session as sell side pressure continued unabated.
The benchmark of Tehran Stock Exchange, TEDPIX, lost 26,659.82 points or 2.16% retreating to where it was last July -- 1,208,048.
Nervous retail investors registered the highest net capital outflow in four months on Tuesday, taking out 11.27 trillion rials ($40 million), which was 171% higher than Monday.
Entrenched stubbornly on the sell side, retail traders accounted for 37.09 trillion rials ($132m) of the total trade indicating 52% rise compared with the day before.
The latest bout of panic selling has been triggered by reports that the parliament is planning to end tax exemptions to some industries in the March 2022-23 budget). If the plan become law, it would undermine the profitability of most commodity companies.
About 6.74 billion shares worth 39.32 trillion rials ($140.5m) changed hands at TSE on Tuesday. Lent Tormoz Iran Company was the biggest winner as its shares went up 4.28% to 63,900 rials per share.
Parsian Oil and Gas Development Group Company contributed the most to the benchmark's fall, followed by Persian Gulf Petrochemical Industries Company, Nouri Petrochemical Company and Pardis Petrochemical Company.
Motogen Company gave the biggest boost to the benchmark index followed by Padideh Shimi Gharn Company, Iran Kish Credit Card Company and Lent Tormoz Iran Company.
IFB Dips 1.7%
Iran Fara Bourse main index, IFX, lost 289.7 points or 1.68% to close Tuesday trade at 16,954.23. About 3.22 billion shares and securities valued at 30.53 trillion rials ($109m) were traded at the junior exchange for the day.
Zagros Petrochemical Company was the biggest loser as its shares dropped 10.27% in the session. The company had the most negative impact on IFX followed by Shahid Tondgooyan Petrochemical Company, Saba Tamin Investment Company and Arfa Iron and Steel Company.
Tukarail Company gave the biggest boost to IFX, followed by Chaharmahal Food Products and Sugar Company, Negin Software Systems Development Company and Pegah East Azerbaijan Dairy Company.
