Economy, Business And Markets

TEDPIX at 6-Month Low

TEDPIX at 6-Month LowTEDPIX at 6-Month Low

Tehran Stock Exchange’s nosediving trend continued on Sunday to reach its lowest level over the past six months, shedding 701.50 points or 1.13% to end at 61,553.2.

According to TSE data, the Price Index lost 275.40 points or 1.13% to close at 24,165.2. The First Market Index plunged 528.10 points or 1.22% to settle at 42,814.6. The Second Market Index dropped 1,325.80 points or 0.96% to end at 136,127.2. The Industry Index was down 512.10 points or 1% to settle at 50,637. The Free Float Index plummeted 1,071.91 points or 1.54% to close at 68,388.60. The TSE 30 Index lost 39.20 points or 1.47% to reach 2,634.3 and the TSE 50 Index dropped 30.50 points or 1.20%% to end at 2,508.5.

More than 500 million shares worth $54 million changed hands, registering a 49% increase in volume and 24% increase in value compared to Saturday.

More than 85% of the listed companies weighed on the benchmark. Islamic Republic of Iran Shipping Lines Company with 79.57 points was the primary laggard followed by Bandar Abbas Oil Refining Company and Bank Mellat with 49.91 and 49.47 respectively.

Bank Karafarin with a P/E ratio of 6 and 7.74 points provided the biggest boost to TEDPIX, tailed by Iran Aluminum Company and Tehran Chemie Pharmaceutical Company with 0.77 and 0.44 points respectively.