Economy, Business And Markets

TEDPIX Keeps Falling

TEDPIX Keeps FallingTEDPIX Keeps Falling

The majority of stocks kept retreating on Sunday, weighing on Tehran Stock Exchange’s benchmark to slip 59.13 points or 0.09% to 66,977.2. TEDPIX recorded its sixth consecutive trading day in red.

According to TSE data, the price index edged down 23.7 points or 0.09% to end at 26,843. The first market index fell 56.69 points or 0.12% to 48,146.1. The second market index shed 36.51 points or 0.03% to 139,333.5. The industry index ticked down 24.8 points or 0.05% to 54,890.2. The free float index was down 19.77 points or 0.03% to close at 76,319.4. The TSE 30 index dropped 2.9 points or 0.1% to 2,988.4 and the TSE 50 index retreated 1.6 points or 0.06% to 2,743.9. More than 490 million shares changed hands valued at $25.8 million.

Bank Eghtesad Novin with 25.14 points was the biggest market laggard followed by Bank Saderat and Ghadir Investment Company with 21.86 and 21.28 points respectively.

Mobin Petrochemical Company with about 30 points provided the biggest boost to TEDPIX. MAPNA and Bahman Group took the second and third place respectively.

Hossein Abdoh Tabrizi, head of Financial and Economic Research Institute of Transport and Housing, anticipated a shift in TSE’s dented sentiment in the near future.

“TSE’s benchmark was notching new highs on upbeat speculations prior to the announcement of the nuclear agreement, so it was unlikely to witness continuous uptrend after the deal ,” said Abdoh Tabrizi. “Basically, nothing has happened yet with regard to the economy.”