Economy, Business And Markets

TEDPIX Ends Seesaw Trade in Green

TEDPIX Ends Seesaw Trade in GreenTEDPIX Ends Seesaw Trade in Green

Stock prices were oscillating between gains and losses at Tehran Stock Exchange on Saturday, with TEDPIX inching up 56.41 points or 0.08% to stand at 66,817.8 at the day’s close.

After the benchmark’s biggest weekly gain in three months during the week that ended July 7, lingering concerns regarding the ongoing nuclear talks between Iran and P5+1 weighed on investors’ sentiment.

According to TSE data, the price index added 23.19 points or 0.08% to 27,498.9. The first market index was down 61.32 points or 0.13% to 48,146.2. The second market index gained 748.63 points or 0.54% to 138,263.7. The industry index pulled higher 141.8 points or 0.26% to settle at 54,474.6. The TSE 30 index edged down 8.4 points or 0.28% to 3,041.4 and the TSE 50 index closed flat.

Ambiguities surrounding a historic economic momentum curbed investors’ enthusiasm to keep garnering devalued shares, leading to a downtrend in trade volume and value. More than 629 million shares changed hands valued at $35.11 million.

Persian Gulf Petrochemical Industry Company with PE ratio of 6 and 57.59 points was the top contributor to TEDPIX followed by Telecommunications Company of Iran and Mobile Telecommunications Company of Iran.

Bandar Abbas Oil Refining Company with PE ratio of 11 and 40.31 points was the biggest laggard followed by Bank Tejarat and Bank Saderat.

As unsettled investors are tracking the nuclear talks, any positive trigger is expected to convince them to inject fresh inflows to the equity market.