Economy, Business And Markets

TEDPIX at 3-Month Low

TEDPIX at 3-Month LowTEDPIX at 3-Month Low

The hazy economic outlook, coupled with liquidity crisis and uncertainties about listed companies’ performance, dramatically dragged down Tehran Stock Exchange’s benchmark to a three-month low. TEDPIX shed 533.8 points or 0.84% to end at 62,948.7 on Sunday’s close.

Despite the recent downtrend at TSE, the reopening of nine listed companies on September 9 exacerbated TEDPIX’s retreat with unsettled investors lining up to get rid of their risky shares and the TSE gauge recording the lowest levels since June 16.

Despite short-run bull markets ahead of the nuclear accord reached between Iran and P5+1 on July 14, TSE failed to extend its gains and tiptoed into a bear market.

According to TSE data, most indices settled in red on Sunday, with TSE 30 Index having the most negative impact on the benchmark. The Price Index fell 209 points or 0.84% to end at 24,726.7. The First Market Index shed 624.8 points or 1.4% to reach 44,031.6. The Second Market Index rose 249.3 points or 0.18% to stand at 137,845.3. The Industry Index slipped 326 points or 0.63% to settle at 51,737.6. The Free Float Index plunged 949.23 points or 1.33% to end at 70,442.6. The TSE 30 Index was down 39.6 points or 1.44% to close at 2,714.7 and the TSE 50 Index plunged 25.3 points or 0.97% to 2,570.3.

Close to 79% of listed companies ended in red, with most of the large-cap ones weighing on TEDPIX. Parsian Oil and Gas Development Company with a P/E ratio of 4 and 91.82 points was the biggest downbeat performer followed by Bandar Abbas Oil Refining Company and Bank Mellat with 66 and 58 points respectively.

Persian Gulf Petrochemical Industry Company with the highest market cap among listed companies at TSE and a P/E ratio of 6 and 85 points was crowned the day’s best performer. National Iranian Copper Industries Company and Jam Petrochemical Company with 53 and 38 points stood next.

  Another Day of Retreat at IFB

Iran Fara Bourse’s benchmark experienced another day of retreat on Sunday falling 12.84 points or 1.78% to settle at 706.04.

More than 110 million securities changed hands in 14,498 transactions valued at $17.56 million.

Isfahan Steel Company saw the transaction of 5.31 million shares worth $266,470 to record the highest daily trade volume and value.

Shirvan Sugar Company and Niroo Sarmayeh Company posted the highest rise in shares’ value. Shomal Sharq Shahroud Company, Tabas Coal Company and Shiraz Oil Refining Company registered the highest retreat in value.

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

Etemad Fund registered the highest trade volume among listed exchange-traded funds. The Fixed-Income Market recorded the highest trade volume for Mapna Group.