Economy, Business And Markets

TEDPIX Gains on Petrochemicals

TEDPIX Gains on PetrochemicalsTEDPIX Gains on Petrochemicals

Petrochemical and refining companies outperformed at Wednesday close to boost the Tehran Stock Exchange’s overall index.

The TEDPIX was propped up by Tamin Petroleum & Petrochemical Investment Company (TPPIC), with the P/E of 3.5, which came on top of other positive contributors to the benchmark. Parsian Oil and Gas Development Company, and Bandar Abbas Oil Refining Company with P/E of 1.8 and 2.2 took the second place and third place respectively.

The TSE’s gauge pulled higher 215.4 points or 0.34 percent to stand at 63,531.4, to stay in green for the 3rd consecutive trading day, however, fell short to recover its downbeat performance within on Saturday and Sunday.

The first market index notched up 184.1 points or 0.4 percent to 45,934.8. The second market index was up 263.7 points or 0.2 percent to 130,495.7. The free float index rose 202.7 points or 0.28 percent to 73,056.9. The industry index gained 223.7 points or 0.43 percent to 52,119.3, and the blue-chip index also edged up 6.2 points or 0.21 percent to settle at 2,912.5.

Bank Saderat with Price Earnings ratio (P/E) of 3.1, was the in the limelight as it registered the highest volume of trade. Mobin Petrochemical Company and Pars khodro took the second and third place respectively.