Bears Reigning Over TSE
Economy, Business And Markets

Bears Reigning Over TSE

Having fallen by more than 10% since the beginning of 2015 amid domestic economic woes and sagging global economy, Tehran Stock Exchange’s benchmark recorded a new low on Saturday, losing 155 points or 0.25% to settle at 61,530.9.
Upbeat news, including the nuclear accord between Iran and P5+1 and forecasted economic growth in the upcoming year, have so far failed to stimulate the equity market, which has been marred by massive selloffs over the past few months.
As TSE data illustrate, all indices were in the red on Saturday with trade volume and value registering a new low.
The Price Index slipped 60.8 points or 0.25% to close at 24,103. The First Market Index fell 105.4 points or 0.25% to stand at 42,758.9. The Second Market Index was down 355.8 points or 0.26% to reach 136,301.2. The industry Index tumbled 96.9 points or 0.19% to close at 50,584.8. The Free Float Index dipped 284.63 points or 0.42% to end at 68,233.8. The TSE 30 Index dropped 9.7 points or 0.37% to stand at 2,626.3 and the TSE 50 Index also lost 7.2 points or 0.29% to settle at 2,509.6.
More than 249 million shares changed hands in TSE valued at $12.91 million to highlight lack of appetite for trade at the equity market.
About 63% of listed companies underperformed with petrochemical, refining, automotive and banking sectors leading the laggards. Bandar Abbas Oil Refining Company with 24.84 points was the worst performer followed by Iran Khodro and Bank Mellat with 19 and 17 points respectively.
Parsian Oil and Gas Development Company with 18.94 points gave the biggest boost to TEDPIX. Ghadir Investment Company and Behshahr Industrial Development Corporation with 16 and 8 points stood next.

 IFX Down 0.7%
Mirroring TEDPIX’s downtrend, Iran Fara Bourse’s overall index, IFX, notched down 4.79 points or 0.7% on Saturday to close at 678.41.
About 60 million securities were traded in 10,944 transactions worth $29 million.
Shirvan Sugar Company with 9.68 million shares registered the highest daily trade volume and value among listed companies at IFB.
The highest rise in shares’ value was registered for Shirvan Sugar Company, Shahroud Industrial Company and Fanava Company. However, the highest retreat was recorded for Afra Net Company, Shiraz Oil Refining Company and Lia Company.
Isfahan Steel Company, Pardis Housing Investment Company, Lia Company, Bank Day, Tehran Oil Refining Company, Lavan Oil Refining Company and Shirvan Sugar Company were on investors’ radar.
The Modern Financial Instrument Market saw the trade of 391,000 shares of Etemad Fund, which topped the listed-exchange traded funds at IFB. In addition, the sales of 31,784 Murabaha bonds of Mega Motor Company with a three-month maturity registered the highest trade volume in the Fixed-Income Securities Market.


Short URL : https://goo.gl/E8t4PV
  1. https://goo.gl/PrXU7w
  • https://goo.gl/PnZksH
  • https://goo.gl/6sQRWW
  • https://goo.gl/vV0CxN
  • https://goo.gl/7LthGr

You can also read ...

The central bank officials of Iran and Oman convened in Tehran on March 17.
A host of high-level officials of the Central Bank of Iran on...
No Telegram  Crypto for Iranians
Telegram has announced that Iranian citizens will not be...
Volkswagen Assigns $25b in Battery Orders
Volkswagen has picked partners to provide battery cells and...
Foreign Exchange Deposit Regulations Updated
The latest update of regulations concerning foreign currency...
Tehran fell by two places in this year’s ranking to 121st most expensive city in the world, narrowly avoiding the bottom 10.
Tehran is among the least expensive cities in the world to...
Toyota Land Cruiser for Iranian Police Fleet
To renovate police cars in Iran ahead of Norouz (Iranian New...
Steel production stood at 38.12 million tons, registering a 14% rise YOY.
Iranian steelmakers exported 7.41 million tons of their...
Iranian Banking Sector Awaits Full JCPOA Benefits
Iran’s Deputy Foreign Minister Abbas Araqchi addressed various...