Economy, Business And Markets

TEDPIX Hovering Around 2-Year Low

TEDPIX Hovering Around 2-Year Low    TEDPIX Hovering Around 2-Year Low

As most stocks have reached their bottom values amid stubborn inflation and prevailing recession, with Tehran Stock Exchange gauge hovering around its recent two-year low, bargain-hunters are striving to shore up their portfolios amid an imminent turnaround as charts and the overall economy suggest.

According to TSE data, TEDPIX ended a seesaw trade barely in green and inched up 32.1 points or 0.05% to stand at 61,563 on Sunday’s close.

The Price Index rose 12.6 points or 0.05% to end at 24,115.6. The First Market Index added 40.3 points or 0.09% to reach 42,799.2. The Second Market Index was off 29.8 points or 0.02% to close at 136,271.2. The Industry Index advanced 48.6 points or 0.1% to reach  50,633.4. The Free Float Index gained 14.33 points or 0.02% to close at 68,248.1. The TSE Index perked up one point or 0.04% to end at 2,627.3 and the TSE 50 Index was up 1.2 points or 0.05% to settle at 2,510.8.

More than 814 million shares changed hands in TSE valued at $33.7 million to record about 260% and 250% growth compared to the prior trading day.

National Iranian Copper Industries Company, Bank Saderat and carmaker Pars Khodro registered the highest daily trade value.

Parsian Oil and Gas Development Company with 27.35 points provided the biggest boost to TSE benchmark. NICICO and Bandar Abbas Oil Refining Company with 23 and 19 points took the second and third places respectively.

Nearly 55% of listed companies pulled down the TSE gauge. Khuzestan Steel Company with 14.21 points was the biggest laggard followed by Bank Pasargad and Tamin Petroleum & Petrochemical Investment Company.

  IFX Settles in Green

Mirroring the TSE’s uptrend, Iran Fara Bourse’s overall index IFX inched up 2.57 points or 0.58% on Sunday on Marun Petrochemical Complex’s outperformance to close at 680.98.

As IFB reported, more than 74 million securities traded in 11,490 transactions valued at $49.4 to register tangible growth in daily trade volume and value compared to Saturday.

Isfahan Steel Company with 6.2 million shares filed the highest trade volume among listed companies at IFB. Lavan Oil Refining Company with $566,470 worth of daily trade recorded the highest trade value.

Minoo Group, Shahroud Industrial Company and Afranet Company saw the highest rise in shares’ value. Lavan Oil Refining Company, Zarin Madan Company and Sobhan Darou saw the biggest retreat in value.