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Stocks Hit New Depth

Stocks Hit New DepthStocks Hit New Depth

Another bad trading day at Tehran Stock Exchange dramatically weighed on the benchmark to tumble 536 points or 0.8% to settle at 66,441.4. This is the TEDPIX’s seventh consecutive day in red.

Since the landmark nuclear deal was clinched on July 14, the main index has plunged 4.39%, much to the astonishment of investors.

TSE data illustrate that on Monday the price index was down 214 points or 0.8% to end at 26,526.6. The first market index lost 501.6 points or 1.04% to settle at 47,644.5. The second market index fell 419.4 points or 0.3% to 138,914.6. The free float index shed 790.21 points or 1.04% to close at 75,529.3. The TSE 30 index slipped 29.7 points or 0.99% to 2,958.7 and the TSE 50 index slid 22.9 points or 0.83% to 2,720.8.

More than 490 million shares changed hands, valued at $33.4 million to post a 20% surge in daily trade value.

Close to 70% of listed companies had a downbeat performance with the banking sector on top. Bank Tejarat with -132.93 points was the most crucial market laggard followed by Mapna Group and Bank Karafarin with -50 and -45 respectively.

Pharmaceuticals provided the biggest boost to TEDPIX. Darou Pakhsh Holding Company and Alborz Darou with around 8 and 5 points took the first and second place respectively.

Financialtribune.com