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Lackluster Trade at TSE

Lackluster Trade at TSELackluster Trade at TSE

The equity market rout has curbed investors’ enthusiasm to shore up their portfolios, with shaky investors preferring to get rid of shares and Tehran Stock Exchange’s trading volume lingering around new lows.

Close to 270 million shares changed hands in a sluggish trade at TSE on Tuesday valued about $23 million to underscore stock’s rock-bottom values, which caused most investors to be avid to close their positions to gain in the next couple of month in early 2016—when sanctions are expected to be lifted.

According to TSE data, TEDPIX edged up 9.9 points or 0.02% on Tuesday to close at 61,578.8. The Price Index perked up 3.9 points or 0.02% to reach 24,121.8. The First Market Index was up 32 points or 0.07% to end at 42,831. The Second Market index slipped 118.1 points or 0.09% to settle at 136,189.9. The Industry Index was up 5.6 points or 0.01% to stand at 50,646. The Free Float Index advanced 23.82 points or 0.03% to close at 68,279. The TSE 30 Index rose 3.3 points or 0.31% to hit 2,629.8 and the TSE 50 Index inched up 1.2 points or 0.05% to end at 2,511.8.

Nearly 50% of listed companies worked to pull down the TEDPIX. Tamin Pharmaceutical Investment Company with 10 points was the biggest laggard followed by Mapna Group and Behshahr Industrial Group with 9 and 8 points respectively.

About 37% of listed companies wrapped up Tuesday trade in green. Ghadir Investment Company with a P/E ratio of 3 and 20 points provided the biggest boost to TEDPIX. National Iranian Copper Industries Company and Bandar Abbas Oil Refining Company with 9.13 and 9.03 points took the second and third place respectively.

Financialtribune.com