Economy, Business And Markets

IFB Gripped by Bearish Sentiment

IFB Gripped by Bearish SentimentIFB Gripped by Bearish Sentiment

Stocks rout at the Iran Fara Bourse (IFB) dragged down the benchmark IFX to slip 9.41 points or 1.3 percent to settle at 710.63 at Sunday’s close, IFB public relations reported.

More than 160 million shares and bonds changed hands at the IFB, valued at close to $44.8 million.

Bank Hekmat with 20.36 million shares, and Tehran Oil Refining Company with close to $1.09 million, registered the highest trade volume and value respectively.

Bank Hekamt was the investors’ safe haven, as they lined up to buy its shares, with 3.6 percent hike in value. Tourism Bank and Fan Ava stood after Bank Hekmat.

The report also noted that Tehran Oil Refining Company, Hormozgan Steel Company, Iranian Petrochemical Group, Sina Port and Maritime Company, Lavan Oil Refining Company, Bank Dey, and Bank Hekmat were in the spotlight on Sunday trading.

Fixed-income securities witnessed the trade of 200,000 rental bonds. Nasim Fund recorded the highest trade volume among the listed Exchange Traded Funds at IFB.