The evident bearish trend at the equity market has intensified the pullback at the Tehran Stock Exchange, with the TEDPIX plummeting 104.4 points or 0.16 percent to end at 63,806.7 at Sunday’s close, spurring concern among both individual and institutional investors.
Most indices once again dragged down the benchmark to help the TSE to register another retreat, with no remedies in sight to make up for the loss unsettled investors have incurred within the past couple of months.
According to TSE data, the first market index slipped 109.9 points or 0.23 percent to end at 47,361.5. The second market index gained 13.9 points or 0.01 percent to 123,138.9. The free float index notched down 162.1 points or 0.22 percent to stand at 72,922.2, the industry index also was down 72.7 points or 0.14 percent to settle at 53,362.3, and the blue-chip index 6.2 points or 0.22 percent to finish at 2,852.3.
The sluggish trade at the TSE was accompanied by downtrend in both trade volume and value, as about 376 million shares changed hands, valued at 783 billion rials.
Persian Gulf Petrochemical Industry Company, with the highest market cap lifted the TEDPIX with close to 21 points; however, most listed firms recorded a downbeat performance, which made the TSE’s gauge fall down. Islamic Republic of Iran Shipping Lines (IRISL), and Iran Transfo with almost 12.89 points and 9 points in positive contribution took the second and third place respectively.
Mellat Bank with 22.29 points in negative contribution was the main market laggard. Pardis Petrochemical Company, and Golgohar Mining and Industrial Company, with almost 17 and 13 points stood next to the bank.
Fara Bourse Trade
Close to $44 million worth of shares were traded on Sunday at Iran Fara Bourse (IFB) or over-the-counter (OTC), with the overall index edging down 2.21 or 0.31 percent to settle at 717.34.
According to Fara Bourse data, more than 311 million shares changed hands, valued at 1,508 billion rials.
Khazar See Shipping Lines, Iran Cultural Heritage and Tourism Investment Group Company, and Dey Insurance Company experienced the highest price surge among all listed firms at the IFB, while Novin Insurance Company, Sabzevar Cement Company, and Saman Insurance Company registered the sharpest decrease in prices.
More than 17,000 participatory bonds (fixed-interest fixed-price bonds) of Persia Oil and Gas Drilling Company were traded, with Aseman Armani Sahm Exchange Traded Fund (ETF) recording the highest trade volume among listed ETFs.
Hoard of Securities Go Public
Meanwhile, as IRNA reported, seven government-owned firms will be offered to the public within the current week.
Close to 83,216 million shares of Iran Insulator Company, which supplies different types of quality ceramic insulators in high and low voltages, valued at the base price of around $5 million, 2,800 shares of Tose’e Corn Company with the base price of $3.48 million, part of Almahdi Hormozal Aluminum Company (AHAC) properties, valued at about $174 million, more than 1.25 billion shares of AHAC, with the base price of $85.6 million, and 176,000 shares of Arak Agricultural Implements Company, with the base price of $240,648 will go public on Monday, the report added It also said two major state-owned football clubs, Persepolis and Esteghlal, each with the base price of close to $85.41 million with payment method of cash and installments will go public on Tuesday.
IPO’s Offering Record
More than $1.13 billion worth of shares of state-owned companies went public via the TSE, Fara Bourse, tender, and negotiation within the past 11 months, which ended February 19, Iran Privatization Organization (IPO) reported.
Almost $790 million worth of shares were offered through Fara Bourse, more than $254 million worth of securities transferred via tender, $87 million transferred through the TSE, and more than $29,445 sold out via negotiation. According to the report, $11.14 billion worth of shares have been offered in block, $8.48 million offered gradually, and $10.2 million sold out to customers picked by the IPO in accordance to the law.
