Economy, Business And Markets

TSE Snaps Losing Streak

TSE Snaps Losing StreakTSE Snaps Losing Streak

The Tehran Stock Exchange benchmark snapped three days of losing streak, and ticked up 11.2 points or 0.02 percent at Tuesday close to settle at 68,465.3.

As swang between gain and losses, some indices failed to lift the TEDPIX, and stood in red territory. TSE data illustrated that the first market index tumbled 113.4 points or 0.23 percent to end at 50,225.5. The second market index pulled up 808.3 points or 0.6 percent to 136,025.3. The free float index gained 40.5 points or 0.05 percent to 79,239.2. The industry index lost ground and notched down 8.5 points or 0.02 percent to 55,888.2, and the blue-chip index lost 5.7 points or 0.18 percent to stand at 3,189.4.

Almost 591 million shares changed hands in a choppy trading day, valued at close to 1.36 trillion rials. Trade volume recorded around 50 percent drop in comparison with the prior trading day.

The Islamic Republic of Iran Shipping Lines extended its bullish sentiment, and with up to 65 points registered the most positive contribution to the TEDPIX. Tamin Petroleum & Petrochemical Investment Company’s trend changed and along with Iran Khodro – leading car manufacturer in Iran – followed the IRISL.

Three giant companies at the TSE were the main laggards, with Bandar Abbas Oil Refining Company topping them. Telecommunication Company of Iran and National Iranian Copper Industries Company took the second and third place respectively.