Tehran stocks closed Tuesday lower again amid mounting sell-side pressure on small caps and retail investors rushing to the exits.
The equal-weighted index of Tehran Stock Exchange, fell 1% after plunging 1.5% a day earlier. The index gives the same weight to all shares irrespective of their market cap and is a better benchmark for gauging the status of stocks in small listed companies.
Thanks to the role of institutional investors, the TSE's main index TEDPIX incurred a smaller loss giving up 4,062.63 points or 0.27% to end trade at 1,483,534.
Retail trade dropped 16% to reach 28.21 trillion rials ($91 million) on Tuesday and net capital outflow by retail investors reached 4.25 trillion rials ($13.7m), extending a pattern of capital outflow that has lasted for 20 straight sessions.
About 25.16 billion shares valued at 114.43 trillion rials ($370 m) changed hands at TSE for the day.
National Iranian Copper Industries Company contributed the most to the benchmark's fall, followed by Middle East Mines and Mineral Industries Development Holding Company, Chadormalu Mining And Industrial Company and Mellat Bank.
Tabriz Oil Refining Company gave the biggest boost to the benchmark index, followed by Mobin Energy Persian Gulf Company, Esfahan Oil Refining Company and Saipa Automaker Company.
IFX Down 0.6%
Iran Fara Bourse main index, IFX, lost 122.58 points or 0.62% to close Tuesday trade at 19,698.
About 3.55 billion shares and securities valued at 202.26 trillion rials ($652m) were traded at the junior equities exchange for the day.
Arya Sasol Polymer Company, Zagros Petrochemical Company, Damavand Power Generation Company and Minoo Industrial Group Company had the most negative impact on IFX.
Lavan Oil Refining Company gave the biggest boost to IFX, followed by Iran Fara Bourse, Tajali Mines and Metals Development Company and Sanati Doodeh Fam Company.
