Economy, Business And Markets

TSE’s Bumpy Ride Ends Flat

TSE’s Bumpy Ride Ends FlatTSE’s Bumpy Ride Ends Flat

Stocks were wavering between slight gains and losses at Tehran Stock Exchange on Monday, with the overall index inching up 5.91 points or 0.01% to 61,586.9 at the day’s close.

Most indices barely settled in green with the Second Market Index on top.

TSE data illustrate that the Price Index perked up 2.3 points or 0.01% to close at 24,117.9. The First Market Index ended flat. The Second Market Index gained 37.6 points or 0.03% to reach 42,799. The Industry Index added 7 points or 0.01% to stand at 50,640.4. The Free Float Index edged up 7.1 points or 0.01% to settle at 68,255.2. The TSE 30 Index was down 0.8 point or 0.03% to close at 2,626.5 and the TSE 50 Index was off 0.2 point or 0.01% to end at 2,510.6.

More than 313 million shares changed hands valued at $19 million to post more than 200% and 70% retreat in trade volume and value respectively compared to Sunday trade.

About 48% of listed companies weighed on TEDPIX with petrochemical sector being the main laggards. Tamin Petroleum & Petrochemical Investment Company with a P/E ratio of 4 and 11.19 points pulled down the benchmark most followed by National Iranian Copper Industries Company and Khuzestan Steel Company with 11.16 and 9.35 points respectively.

Around 39% of listed firms outperformed. Islamic Republic of Iran Shipping Lines with 14.18 points provided the biggest boost to TSE gauge. Telecommunications Company of Iran and Parsian Oil and Gas Development Company with 14 and 18 points took the second and third places respectively.

  IFX Up 0.8%

Iran Fara Bourse’s main index, IFX, ended a fluctuating day in green on Monday and rose 5.42 points or 0.8% to settle at 686.54.

More than 173 million securities traded in 12,715 transactions worth $47 million.

The highest daily trade volume with 6.13 million shares was recorded for Iranian Investment Petrochemical Group. Marun Petrochemical Complex registered the highest daily trade value at IFB.

Ravan Fanavar Company and Minoo Group saw the highest rise in shares’ value. Niroo Sarmayeh Company and Shirvan Sugar Company had the biggest retreat in value.

Isfahan Steel Company, Lia Company, Bank Day, Iran Cultural Heritage and Tourism Investment Group Company, Shirvan Sugar Company, Tehran Oil Refining Company, Lavan Oil Refining Company as well as Pardis Housing Investment Company were on investors’ radar.

Etemad Fund with 324,660 shares topped listed exchange-traded funds at Modern Financial Instrument Market.

The highest trade volume in Fixed-Income Securities Market was registered for Chadormalu Mining and Industrial Company with 45,000 leasing bonds with three-month maturity.