Economy, Business And Markets

TSE Ends Week in Red

TSE Ends Week in RedTSE Ends Week in Red

The Tehran Stock Exchange overall index wrapped up weekly trade, which ended May 13, in red territory with almost all indices piling up more losses.

According to TSE data, TEDPIX lost 538 points or 0.84 percent in comparison with prior trading week to stand at 63,531. The first market index notched down 497 points or 1.07 percent to end at 45,934.8. The second market index slipped 421 points or 0.32 percent to 130,495.7. The free float index tumbled 515 points or 0.7 percent to 73,056.9. The industry index plummeted 538 points or 1.02 percent to 52,119.3. The financial index ticked up 103 points or 0.07 percent to 137,185, and the blue-chip index 27 points or 0.93 percent to 2,912.5.

Despite downbeat performance of most companies listed at the TSE, both trade volume and value posted more than 50 percent growth.

More than 2.01 trillion shares changed hands, valued at about 4.75 trillion rials to post close to 70.6 and 61.5 percent increase respectively.

Given the policies about the upcoming Initial Public Offerings, which will be based on book building mechanism, historic average Price Earnings ratio, and the ever-increasing transparency at the equity market, TSE’s negative sentiment is most likely to change.