20189
Stock Market Gripped by Overreactions
Economy, Business And Markets

Stock Market Gripped by Overreactions

A seesaw trade amid all-embracing overreactions to the lingering nuclear negotiations between Iran and the P5+1 ended in an uptick for Tehran Stock Exchange benchmark on Monday.
Almost half of the listed companies outperformed with most of the indices settling in green. Unprecedented ups and downs have dented the TSE’s sentiment, however, stock prices are still lucrative for bargain hunters.
According to TSE data, TEDPIX notched up 31.5 points or 0.05 percent to wrap up at 64,333.9. The first market index edged up 48.8 points or .01 percent to end at 46,338.4. The second market index slipped 95.7 points or 0.07 percent to 133,231.3. The free float index rose 104.3 points or 0.14 percent to 73,739.6. The industry index ticked down 2.9 points or 0.01 percent to 52,639.3 and the blue-chip index gained 3.1 points or 0.11 percent to 2,944.7.
Trade volume and value increased compared to the prior trading day with more than 491 million shares changing hands valued at about $30 million.
Kharg Petrochemical Company had a downbeat performance as many shareholders lined up to sell their shares, helping the company to register the highest daily trade volume. Tehran Cement and Bank Saderat came next.
Bank Saderat outperformed and with close to 24 points surpassed all positive contributors to TEDPIX. Bandar Abbas Oil Refining Company and Shiraz Oil Refining Company with 18.6 and 18 points took the second and third place respectively.
Tamin Petroleum & Petrochemical Investment Company with 12.94 points left the most negative impact on TSE gauge. Persian Gulf Petrochemical Investment Company and Bank Karafarin with close to 10 and 8 points respectively came next.

Short URL : http://goo.gl/QiCho9

You can also read ...

President Rouhani Officially Inaugurates Tabriz 2018
A glittering ceremony attended by President Hassan Rouhani was...
Audi Recalling 1.16 Million Vehicles
Volkswagen AG’s luxury unit Audi said on Tuesday that it was...
E-Jing GT electric sports car concept
The Beijing International Automotive Exhibition is a barometer...
Pensions Account for Biggest Share of Treasury Payments
Payments to the Civil Servants Pension Organization accounted...
In its meeting on Tuesday, the Money and Credit Council, headed by CBI Governor Valiollah Seif, approved further cuts to interest rates levied on Housing Savings Account.
Iran's highest financial decision-making body has approved...
While Iran currently produces about 400,000 tons per year of aluminum, consumption is around 600,000 to 700,000 tons.
Iran is on track to launch a new aluminum smelter early next...
Natural Disasters Cause Hefty Agro Losses
Natural disasters such as frost and drought inflict losses of...
Bank Branches Shrink
Iranian banks have shrunk by 0.3% in the previous quarter...

Trending

Googleplus