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Large-Cap Stocks Drag Down TEDPIX

Large-Cap Stocks Drag Down TEDPIXLarge-Cap Stocks Drag Down TEDPIX

Tehran Stock Exchange’s overall index dropped on Sunday amid downbeat performance of 64% of listed companies, including companies with the highest market cap.

TEDPIX snapped a three-day winning streak and slipped 299.2 points or 0.45% to stand at 66,530.5, according to TSE data.

The price index was down 119 points or 0.45% to end at 26,456.9. The First Market Index fell 261.2 points or 0.55% to close at 47,611.3. The Secondary Market Index notched won 347.5 points or 0.25% to 139,679.5. The Industry Index slid 245.6 points or 0.456% to 54,559.4. The Free Float Index fell 420.48 points or 0.55% to 75,628.6. The TSE 30 index lost 18 points or 0.6% to 2,957.6 and the TSE 50 index retreated 12.9 points or 0.47% to settle at 2,725.9.

Despite the benchmark’s pullback, trade volume and value registered tangible increase. More than 648 million shares changed hands valued at about 59 million to post close to 25% and 45% uptick in daily trade volume and value respectively compared to the previous trading day.

Mobile Telecommunications Company of Iran with the PE ratio of 4 and 32.07 points provided the biggest boost to TEDPIX followed by Bank Karafarin and Iran Transfo Company with 16 and 12 points respectively.

National Iranian Copper Industries Company with -80.29 points was the biggest market laggard followed by Pardis Petrochemical Company, and Islamic Republic of Iran Shipping Lines with -64 and -39 points respectively.

Financialtribune.com