Prevailing ups and down at Tehran Stock Exchange on Monday, especially for large-cap stocks, curbed investors’ enthusiasm and led to lingering low trade volume and value at the equity market.
Large-cap companies’ stocks, including those of Islamic Republic of Iran Shipping Lines, Telecommunications Company of Iran, petrochemical and banking sectors are witnessing daily fluctuations, which imply that investors are mostly referring to charts rather than fundamental analyses.
According to TSE data, TEDPIX gained 96.2 points or 0.14% to settle at 66,626.7. The Price Index rose 38.2 points or 0.14% to close at 26,495.1. The First Market Index was down 47.7 points or 0.1% to 47,653.6. The Second Market Index advanced 895.3 points or 0.64% to stand at 140,574.3. The Industry Index added 106 points or 0.19% to end at 54,665.4. The Free Float Index was up 61.03 points or 0.08% to 75,689.6. The TSE 30 Index edged up 4.6 points or 0.16% to 2,962.2 and the TSE 50 Index ticked up 5.1 points or 0.19% to 2,731.
Despite the benchmark’s uptick, trade volume and value retreated compared to the prior trading day. More than 480 million shares changed hands valued at $47.8 million to post close to 27% and 18% decline in trade volume and value respectively.
Mobile Telecommunications Company of Iran with a PE ratio of 4 and about 80 points provided the biggest boost to TEDPIX. Tamin Petroleum & Petrochemical Investment Company and Persian Gulf Petrochemical Industry Company with 24 and 20 points respectively came next.
About 55% of listed companies had a negative impact on TEDPIX. The National Iranian Copper Industrial Company with -10 points was the biggest market laggard followed by Iran Transfo and Ghadir Investment Company with -6.94 and -6.84 points respectively.
IFX Closes Flat
A bumpy ride at Iran Fara Bourse led the benchmark IFX to inch up only 0.2 points or 0.03% and limp to a mixed close at Monday’s close.
According to IFB, 525 million securities traded in 16,415 transactions valued at $35.15 million.
Bank Day, with 12.68 million shares, recorded the highest daily trading volume. Iran Cultural Heritage and Tourism Investment Group Company with more than $733,300 recorded the highest trade value.
The highest daily rise in prices was filed for ICHTIC, Zangan Zinc Industry Company and Fanava Company respectively. Jam Petrochemical Company left the most positive impact on IFB benchmark.
Bank Day, Novin Insurance Company and Taknar Copper Mines Complex registered the highest retreat.
The Modern Financial Instrument Market recorded the highest trading volume among listed exchange-traded funds for Etemad Fund. Some 68,590 leasing bonds of Rightel Company were sold out at IFB’s fixed-income market.
