Economy, Business And Markets

Bears Reign Over Equity Market

Bears Reign Over  Equity MarketBears Reign Over  Equity Market

Tehran Stock Exchange witnessed a fresh rout on Tuesday with the overall index shedding 454.3 points or 0.7% to end at 64,197.3. This is TEDPIX’s third consecutive day in red.

According to TSE data, the Price Index lost 179.6 points or 0.7% to close at 25,377.9. The First Market Index slipped 320 points or 0.7% to settle at 45,475.5. The Second Market Index was off 982.1 points or 0.71% to 137,403.9. The Industry Index fell 321.6 points or 0.6% to end at 52,960.4. The Free Float Index dropped 635 points or 0.87% to 72,253.1. The TSE 30 Index dipped 18.7 points or 0.66% to 2,834.5 and the TSE 50 Index was down 19.2 points or 0.72% to 2,631.3.

More than 707 million shares changed hands valued at $41.9 million. Trade volume and value were nearly the same as those on Monday.

All indices settled in red and dragged down the benchmark with the Free Float Index weighing most.

More than 81% of listed companies underperformed. Persian Gulf Petrochemical Investment Company with -62.27 points was the biggest laggard followed by Islamic Republic of Iran Shipping Lines and Bank Mellat with -48 and -35 points respectively.

Mobile Telecommunications Company of Iran with 35 points provided the biggest boost to TEDPIX followed by Pardis Petrochemical Company and Telecommunications Company of Iran with 18 and 6 points respectively.

  IFX Tumbles 1.23%

Iran Fara Bourse’s benchmark IFX mirrored TEDPIX’s downbeat performance and slipped 9.08 points or 1.23% to close at 726.8.

More than 134 million securities changed hands in 12,571 transactions valued at close to $14 million.

Iranian Petrochemical Investment Group recorded the highest trade volume and Mapna Group registered the highest daily trade value among listed companies at IFB.

The highest rise in shares’ value was filed for Taknar Copper Company, Northwest Housing Investment Company and Niroo Sarmayeh. Minoo Group, Fanava Company and Railroad Engineering Company saw the highest retreat in value.

Sina Port and Maritime Company, Tehran Oil Refining Company, Isfahan Steel Company, Bank Day and IPIC were on investors’ radar.

The Modern Financial Instrument Market recorded the highest trade volume of listed exchange-traded funds for Ganjineh Ayande Roshan Fund. About 17,650 leasing bonds of RighTel Company were sold out to investors.