Bears dominated trading on Tehran Stock Exchange on Wednesday as stocks fell across the board amid investor concerns triggered by risks emanating about the looming US sanctions due No.4.
The benchmark TEDPIX index closed 4,258.6 points down on the last trading day of the week to settle at 181,061.0 points level. During the trading, the index also fell below the psychological barrier of 188,000 points level.Refinery and banking stocks were among the worst performers on Wednesday but one silver lining of the selloff was the fact that investors are becoming more cautious in picking their stocks based on companies' earnings results.
In the currency market however, exchange rates continue to enjoy relative stability with the US dollar's exchange rate still below the resistance level of 140,000 rials. On Wednesday the dollar was traded for 136,000 rials, down from the previous day's 137,000 rials to mark the second consecutive fall for the greenback.
Market Indexes
Tehran Stock Exchange’s main index lost 4,258.66 points or 2.30% on Wednesday to end trading at 181,060.
About 1.82 billion shares valued at $47.59 million changed hands at TSE for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.
Pars Electric Manufacturing Company was the biggest winner as its shares went up 8.01% to 5,368 rials per share.
Isfahan Oil Refining Company incurred the biggest loss among all TSE-listed companies and went down 7.77% to 10,002 rials per share.
Isfahan Oil Refining Co. contributed the most to the benchmark's fall, followed by Tehran Oil Refining Co., and Tamin Petroleum and Petrochemical Investment Company.
Tamin Petroleum and Petrochemical Investment Company gave the biggest boost to the benchmark index, followed by Khark Petrochemical Co., and Sepahan Oil Co.
The Price Index lost 1,240.36 points to close at 52,738.1. The First Market Index was down 3,731.87 points to post 134,557.1. The Second Market Index decreased by 5,602.89 points to reach 355,023.1.
The Industry Index went down by 3,821.72 points to register 165,639.3. Free Float Index was down 4,699.48 points to hit 190,900.20. The TSE 30 went down 226.50 point to settle at 9,058.3 and the TSE 50 ended 196.31 points lower to finish at 8,023.1.
IFX Down 1.9%
Iran Fara Bourse’s main index IFX lost 40.05 points or 1.9% to close Wednesday trade at 2,065.15.
About 720.58 million securities valued at $27.73 million were traded at the over-the-counter exchange for the day. Novin Insurance had the highest number of traded shares as 41.2 million of its shares were traded.
Mapna Asaluyeh Power Plant registered the highest trade value as $1.07 million worth of its shares changed hands.
Teliseh Nemooneh Co., Iranian Reinsurance Co., and Hormozgan Steel Co. registered the highest value increase. Asia Zarin Madan Co, Iran Cultural Heritage and Tourism Investment Group Company, and Hotel Parsian Kowsar suffered the biggest decline.
Middle East Mines Industries Development Holding Company, Marun Petrochemical Co., and Esfahan Steel Company had the most negative impact on IFX.
