Economy, Business And Markets
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TSE Gauge Ends Seesaw Trading Day Flat

TSE Gauge Ends Seesaw Trading Day FlatTSE Gauge Ends Seesaw Trading Day Flat

Tehran Stock Exchange’s overall index oscillated between gains and losses before ticking up 18 points or 0.03 percent at Saturday’s close to end at 63,420.1.

The first market index inched up 6.2 points or 0.01 percent to 45,720.1. The second market index rose 156.1 points or 0.12 percent to stand at 131,099.1. The free float index was up 3.1 points to limp to a flat close. The industry index ticked up 11 points or 0.02 percent to 52,219, and the blue-chip index shed 2.6 points or 0.09 percent to 2,903.3.

The wobbling economy and enduring ambiguities are still curbing investors’ enthusiasm to lineup for the stocks that have rocked their bottom values.

More than 345 million shares changed hands in a floppy trading day, valued at around $18 million to post close to 30 and 15 percent growth in trade volume and value respectively.

Most of the listed companies at the TSE dragged down the benchmark, with petrochemicals leading the market laggards.

Persian Gulf Petrochemical Industry Company, which has the highest market cap at TSE, lost 2.76 percent of its shares’ value, and heavily weighed on the benchmark. Tamin Petroleum & Petrochemical Investment Company, and Mobarakeh Steel Company with 22 and 15 points in downbeat performance followed the PGPIC.

Bank Sina recorded the highest volume of trade, and Bank Saderat and Mobin Petrochemical Complex took the second and third place.

Islamic Republic of Iran Shipping Lines, with almost 71.5 points, grabbed the attention of the investors, who lined up to garner its shares. Mobile Telecommunications Company of Iran and Bandar Abbas Oil Refining Company with Price Earnings ratio of 3.8 and 2.2 took the second and third place respectively.

 Refining Companies Lift IFX

Iran Fara Bourse saw a bumpy ride on Sunday, with the main index IFX inching up 0.08 points or 0.01 percent on refining companies’ bullishness to limp at 714.91.

Tehran Oil Refining Company and Lavan Oil Refining Company reportedly contributed the most to the IFX’s settlement in green territory. In addition, Shahroud Industrial and Mining Company, Khazar Sea Shipping Lines Company and TORC also registered the highest rise in their shares’ value.

More than 58.8 million securities changed hands, valued at $36.6 million.

Hormozgan Steel Company with up to 6.36 million shares surpassed all listed companies in trade volume. The TORC with around $1.23 million topped the highest trade value.

Kharazmi IT Development Company along with Saman Insurance Company failed to attract the investors and recorded the highest price decline in their shares value.

Mortgage-backed securities once again posted a fresh retreat, and their price swung from 690,000 to 730,000 rials.

Finally, 26,500 leasing bonds were sold out as fixed-income securities. The ASAS Fund, with 500,000 of its shares having been traded, recorded the highest trade volume among listed exchange traded funds at IFB.

Financialtribune.com