Tehran’s share market tumbled on Monday moving further away from recent highs amid mounting selloff pressure and massive capital outflow.
The benchmark of Tehran Stock Exchange, TEDPIX, shed 25,011 points and lost 1.58%, the biggest daily decline in five week and ended the session at 1,557,210.
The TSE’s equal-weighted index was down almost 2%, indicating higher sell-side pressure on penny stocks.
With retail stockholders rushing to sell, retail trade rose 33% to reach 71.62 trillion rials ($238 million) on Monday.
Net capital outflow by retail investors was 12.57 trillion rials ($41m) for the day, the highest in three months.
At the close of the session, 494 tickers were in the negative territory while 144 others posted gains representing 22% of the total.
About 14.22 billion shares valued at 69.81 trillion rials ($249.34m) changed hands on Monday.
Chadormalu Mining And Industrial Company contributed the most to the benchmark's fall, followed by Social Security Investment Company, Golgohar Mining and Industrial Company and Mobarakeh Steel Company.
Barakat Pharmaceuticals Group Company gave the biggest boost to the benchmark index, followed by Islamic Republic of Iran Shipping Lines Company, Abyek Cement Company and Middle East Mines and Mineral Industries Development Holding Company.
IFX Tumbles 1.14%
Iran Fara Bourse main index, IFX, lost 246.59 points or 1.14% to close Monday trade at 21,313.
About 5.59 billion shares and securities worth 1,562.6 trillion rials ($5.58 billion) were traded at the junior equities exchange.
Hormozgan Steel Company, Saba Tamin Investment Company, Arya Sasol Polymer Company and Shahid Tondgooyan Petrochemical Company had the most negative impact on IFX.
Sepehr Saderat Financial Group Investment Company gave the biggest boost to IFX, followed by Daana Pharmaceutical Company, Khomein Ferrosilicon Company and Ghiam Isfahan Agricultural and Livestock Company.
