Economy, Business And Markets

TEDPIX Dips Lower

TEDPIX Dips LowerTEDPIX Dips Lower

Unsettled investors kept shrugging off upbeat news, including the latest comments made by Britain’s Foreign Secretary Philip Hammond on possible collaboration between the two countries’ stock markets, with the benchmark notching a record low on Monday.

The bearish sentiment at Tehran Stock Exchange dragged down all indices. TEDPIX slipped 229.8 points or 0.35% to close at 64,651.6. The First Market Index lost 90.9 points or 0.35% to stand at 25,557.5. The Second Market Index slid 103 points or 0.23% to end at 45,795.5. The Industry Index was off 194.5 points or 0.36% to settle at 138,386. The Free Float Index fell 209.7 points or 0.29% to 72,888.1. The TSE 30 Index ticked down 4.8 points or 0.17% to 2,853.2 and the TSE 50 Index was down 9.8 points or 0.37% to 2,650.5.

More than 716 million shares changed hands valued at $41.22 million to post a tiny growth in trade volume and a slight decline for trade value compared to Sunday.

Isfahan Oil Refining Company with 28 points gave the biggest boost to TEDPIX followed  by Iran Khodro.

About 70% of listed companies underperformed with large-cap companies on top of the list of losers. Tamin Petroleum and Petrochemical Investment Company with -47 points was the biggest laggard followed by Persian Gold Petrochemical Industry Company and Mapna Group with -46 and -13 points respectively.

  Monthly Report

More than 9.7 billion shares changed hands in 672,308 transactions during the Iranian month that ended August 22 to register 50% and 47% decrease in the number of shares and transactions respectively compared to a month before. In addition, monthly trade value reached $710 million to record a 40% retreat.

TSE’s overall index extended its losing streak and tumbled 2,419 points or 3.58% to settle at 65,225.

The First Market Index and the Second Market Index plunged 2,287 points and 1,931 points to stand at 46,186 and 139,369 respectively.