Economy, Business And Markets

TEDPIX Inches Down

TEDPIX Inches DownTEDPIX Inches Down

Price swings in Tehran Stock Exchange besides low trade volume and value were accompanied by further retreat of the benchmark on Wednesday trading, with most of the indices settling in red.

The TSE's bearishness once again wrapped up the week in red to underscore the equity market's fragile atmosphere, which has curbed skittish investors' enthusiasm to shore up their portfolios.

According to TSE data, TEDPIX edged down 17 points or 0.03 percent to end at 63,402.1. The first market index slipped 36.8 points or 0.08 percent to stand at 45,726.3. The second market index gained 118 points or 0.09 percent to 130,943. The free float index was down 107.9 points or 0.15 percent to 72,634.3. The industry index ticked up 13.5 points or 0.03 percent to 52,208, and the blue-chip index edged down 1.8 points or 0.06 percent to stand at 2,905.9.

TSE recorded a lousy trade volume, with nearly 262 million shares changing hands, valued at $15.2 million to highlight the gloomy atmosphere of the equity market. More than 65 percent of listed companies weighed on the benchmark, with Bandar Abbas Oil Refining Company leading the market laggards. Telecommunications Company of Iran and Mobin Petrochemical Company also with 15 and 14 points downbeat performance took the second and third place respectively. Omid Investment Group Corporation with 29.81 points had the most positive impact on TSE's gauge. Mobile Telecommunications Company of Iran and Persian Gulf Petrochemical Industry Company followed the OIGC.

  IFX Edges Up

Iran Fara Bourse main index, IFX, recorded a seesaw trading day, and notched up 0.39 points or 0.5 percent to limp at 714 at Wednesday close, IFB reported. More than 510 million securities changed hands, valued at a total of close to $32.6 million to surpass TSE trade volume and value. The highest trade volume with more than 431,900 preferred shares was registered for Tourism Bank, valued at around $8.9 million.

Amir Kabir Petrochemical Company filed the highest price rise, and Maroun Petrochemical Complex and Jam Petrochemical Complex gave the biggest boost to the IFX. Modern Financial Instruments market recorded the highest trade volume for Etemad Fund, with more than 342,440 rounds of share transaction among other exchange traded funds. Moreover, 40,000 leasing bonds of Chadormalu Mining and Industrial Company were grabbed by investors to enjoy its fixed-income yield.