Economy, Business And Markets

Stocks Comeback Drags Down TEDPIX

Stocks Comeback Drags Down TEDPIXStocks Comeback Drags Down TEDPIX

Bandar Abbas Oil Refining Company’s ticker symbol’s reopening in the final trading hours at Tehran Stock Exchange on Wednesday led to 17.8% drop in the company’s shares’ value, dramatically weighing on TSE’s benchmark.

Mobarakeh Steel Company, Khouzestan Steel Company, Bank Pasargad, Parsian Oil and Gas Development Company and Golgohar Mining and Industrial Company were among companies whose ticker symbols made a comeback on TSE’s board.

According to TSE data, TEDPIX shed 1,044 points or 1.62% to settle at 63,467.7. The Price Index fell 412.6 points or 1.62% to end at 25,089.6. The First Market Index plunged 1,117.6 points or 2.44% to close at 44,638.3. The Second Market Index slipped 154.4 points or 0.11% to reach 137,6060.6. The Free Float Index plunged 902.5 points or 1.7% to end at 52,043.4. The TSE 30 Index dropped 97.8 points or 3.43% to stand at 2,754.4, and the TSE 50 Index was down 52 points or 1.97% to settle at 2,594.1.

Around 56% of the listed companies had a downbeat performance. Bandar Abbas Oil Refining Company with -283 points was the biggest laggard followed by Mobarakeh Steel Company and Khouzestan Steel Company with -241 and -139 points respectively.

Bank Saderat with 6.7 points gave the biggest boost to TEDPIX. Mobile Telecommunications Company of Iran and Isfahan Oil Refining Company with 5 and 6 points took the second and third place respectively.