Economy, Business And Markets

TSE Benchmark Ends Flat

TSE Benchmark Ends FlatTSE Benchmark Ends Flat

A bumpy ride at Tehran Stock Exchange on Saturday ended with TEDPIX picking up 14.80 points or 0.02% to close at 63,482.5.

According to TSE data, the Price Index inched up 5.80 points or 0.02% to end at 25,095.4. The First Market Index rose 18.10 points or 0.04% to reach 44,656.4. The Second Market Index edged down 9.90 points or 0.01% to settle at 137,596.1. The Industry Index was up 20.2 points or 0.04% to close at 52,063.6. The Free Float Index lost 49.29 points or 0.07% to stand at 71,391.8. The TSE 30 Index ended flat and the TSE 50 Index perked up 1.5 or 0.06% to stand at 2,595.6.

Trade volume and value dramatically plunged with more than 276 million shares changing hands valued at $17 million to post close to 100% decline in daily trade volume and value compared to the previous trading day.

Around 64% of the listed companies weighed on the benchmark. Golgohar Industrial and Mining Company with 33.39 points was the main market laggard followed by Bank Pasargad and Parsian Oil and Gas Development Company with -18.7 and -6.96 points respectively.

Bandar Abbas Oil Refining Company with a PE ratio of 2 and 54.72 points provided the biggest boost to TEDPIX, followed by Behran Oil Company and Bank Mellat with about 11 points each.

 IFX Down 0.55%

More than 39 million securities were traded at Iran Fara Bourse on Saturday valued at over $466.7 million, as the main index IFX retreated about 4 points or 0.55% to close at 718.87.

Isfahan Steel Company recorded the highest daily trade volume and value among listed companies at IFB with 11.704 million shares transacted worth $6.17 million.

Novin Insurance Company, Lia Company and Shirvan Sugar Company recorded the highest rise in shares’ value. Shiraz Oil Processing Company, Shomal Sharq Shahroud Industrial and Mining Company and Isfahan Steel Company posted the highest decline in value.

Tehran Oil Refining Company, Lia Company, Isfahan Steel Company, Bank Day, Tukarail Company, Iranian Investment Petrochemical Group and Tehran Housing Investment Company were on investors’ radar.

Etemad Fund with 242,310 shares outperformed other listed exchange-traded funds. In addition, 61,197 Murabaha bonds of Mega Motor Company with three-month maturity were sold out.

Meanwhile, Iran Privatization Organization has announced that part of 26 state companies and properties, including Rena Investment Company, North Drilling Company, Kazerun Petrochemical Complex, Iran Tractor Industrial Machinery Company, Dehloran Petrochemical Company and Iran Air Tour Company will go public through Tehran Stock Exchange, Iran Fara Bourse and auction during the week that started September 12.