Economy, Business And Markets

TSE Slump Fraying Investors’ Nerves

TSE Slump Fraying Investors’ NervesTSE Slump Fraying Investors’ Nerves

Stocks at the equity market are getting thrashed with low trade volume and value, underscoring the unsettled state of investors amid the economic woes.

Saturday trading at Tehran Stock Exchange was a fresh bumpy ride, with TSE’s overall index inching up 7.8 points or 0.01 percent to stand at 63,297.6.

Listed companies at TSE have been suffering from lingering ambiguities over the fate of western sanctions. Currently, no concrete indicator has been able to stimulate TSE’s dented sentiment.

According to TSE data, the majority of listed companies at TSE weighed on the TEDPIX performance. However, Telecommunications Company of Iran (TCI) outperformed, and topped the positive contributors.

TSE’s seesaw trading day witnessed most indices settling in red. The first market index ticked up 12 points or 0.03 percent to end at 45,665.6. The second market index was down 23.3 points or 0.02 percent to 130,635.7. The free float index lost 68 points or 0.09 percent to 72,432.2. The industry index rose 33.6 points or 0.06 percent to 52,221.2 and the blue-chip index slipped 4.6 points or 0.16 percent to 2,886.4.

More than 248 million shares changed hands, valued at close to $15 million to record a dramatically low trade volume and value amid the bearish sentiment at the equity market.

TCI, with P/E Ratio of 3.8, almost capped its volatility and with 69.68 points surpassed other positive contributors to TEDPIX. Khuzestan Steel Complex and Darou Pakhsh Holding Company, with 14.4 and 7.44 points took the second and third place respectively.

Bandar Abbas Oil Refining Company with 17.52 points left the most negative impact on the TEDPIX. Bank Mellat and Islamic Republic of Iran Shipping Lines followed the BAORC.

According to SENA, a block offering of TCI’s shares, accounting for 4.78 percent of the listed conglomerate’s ownership, worth almost $66,363 is set to go public on June 15.


  IFX Notches Down

The gloom hanging over the equity market is also dampening Iran Fara Bourse performance, with its main index, IFX, standing at 708.85.

More than 79 million securities were traded at IFB on Saturday, valued at $11.6 million, with Iranian Investment Petrochemical Group and Tehran Oil Refining Company registering the highest trade volume and value respectively.

The shares of Pasargad Insurance Company and Tadbir Garane Fars Company had the highest price rise on Saturday trading. Minoo Group and Ravan Fanavar spooked investors and witnessed the highest fall in their shares values.

About 72,460 participatory bonds of Parsian Oil and Gas Company were traded at IFB Fixed-Income Securities Market. The highest trade volume among listed exchange traded funds was recorded for Etemad Fund with almost 820,000 shares.

IFB Third Market featured a newly debuted ETF, namely Ganjineh Ayandeh Roshan, which sold almost 820,000 units, priced at $248,484.