Business And Markets

Stocks Open Week Lower

Stocks Open Week Lower
Stocks Open Week Lower

Tehran’s share market opened the week Saturday again in negative territory with retail investors rushing for the exits. 
The main gauge of Tehran Stock Exchange, TEDPIX, lost 11,085 points or 0.71% to end at 1,553,401.
The TSE’s equal-weighted index was down close to 1%, showing higher selloff pressure on small stocks. 
Capital outflow by retail investors amounted to 4.5 trillion rials ($15 million) on Saturday. 
At the close of the session, 156 tickers gained while 464 others dived, representing 25% and 75% of the total active tickers.   
About 11.7 billion shares valued at 63.73 trillion rials ($219 million) changed hands at TSE for the day.
Trading at TSE and junior equities exchange Iran Fara Bourse starts on Saturday and ends Wednesday.
Motojen Company was the main winner as its shares went up 9.54% to 3,812 rials per share.
Paxan Corporation incurred the biggest loss among all TSE-listed companies and went down 5.71% to 2,627 rials per share.
Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by Iran Khodro Company, MAPNA Group and Persian Gulf Petrochemical Industries Company.
Esfahan Oil Refining Company gave the biggest boost to the benchmark index, followed by Pars Petrochemical Company, Pardis Petrochemical Company and Bandar Abbas Oil Refining Company.


IFX Down 0.4%

Iran Fara Bourse main index, IFX, lost 90.62 points or 0.42% to close Saturday trade at 21,397. About 3.86 billion securities worth 34.3 trillion rials ($118m) were traded at the junior equities exchange for the day.
Sepehr Saderat Financial Group Investment Company, Hormozgan Steel Company, Arya Sasol Polymer Company and Arfa Iron and Steel Company had the most negative impact on IFX.
Iranian Ghadir Iron and Steel Company gave the biggest boost to IFX, followed by Daana Pharmaceutical Company, Damavand Power Generation Company and Bahman Diesel Company.

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