Economy, Business And Markets

TEDPIX Downtrend Stays

TEDPIX Downtrend StaysTEDPIX Downtrend Stays

Tehran Stock Exchange’s downward trend continued on Tuesday as it shed 456.50 points or 0.72% to end at 62,356.5.

According to TSE data, the Price Index lost 179.20 points or 0.72% to close at 24,551.2. The First Market Index plunged 446.40 points or 1.01% to settle at 43,566.1. The Second Market Index dropped 287.50 points or 0.21% to reach 137,923.5. The Industry Index was down 345.70 points or 0.67% to end at 51,463.1. The Free Float Index plummeted 655.81 points or 0.93% to hit 69,778.10. The TSE 30 Index lost 29.50 points or 1.09% to close at 2,684.7 and the TSE 50 Index nosedived 20.50 points or 0.80% to end at 2,550.9.

More than 300 million shares worth $17.8 million changed hands in a slack trading day to post close to 15% decline in daily trade volume and value.

More than 75% of the listed companies weighed on the benchmark. Bandar Abbas Oil Refining Company with 62.12 points was the primary laggard followed by Parsian Oil and Gas Development Company and Bank Mellat with 58.72 and 40.11 points respectively.

Bank Karafarin with a P/E ratio of 6 and 6.94 points provided the biggest boost to TEDPIX, tailed by Middle East Bank and Pardis Petrochemicals with 6.06 and 6.02 points respectively.

  IFB Retreats Too

More than 303 million securities were traded at Iran Fara Bourse on Tuesday valued at more than $311.5 million, as the main index IFX retreated about 10 points or 1.06% to close at 695.56.

Isfahan Steel Company recorded the highest daily trade volume and value among listed companies at IFB with 6,680 million shares transacted worth $3.2 million.

Arman Insurance Company, Eqtesad Novin Investment Company and Shirvan Sugar Company recorded the highest rise in shares’ value. Taknar Copper Mining Company, Shiraz Oil Refining Company and Isfahan Steel Company posted the highest decline in value.

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

Etemad Fund with 700,000 shares outperformed other listed exchange-traded funds. In addition, 130,000 leasing bonds of RighTel Company with three-month maturity were sold out.