TSE Benchmark in Two-Year Low
Economy, Business And Markets

TSE Benchmark in Two-Year Low

Tehran Stock Exchange’s gauge registered a new record low on Saturday since September 18, 2013, which eroded confidence among investors and exacerbated selloffs at the equity market.
According to TSE data, TEDPIX tumbled 280.9 points or 0.16% to end at 61,217.4.
All indices closed in red with Free Float Index on top of market laggards. The Price Index was off 110 points or 0.46% to end at 23,980.2. The First Market index slipped 296.5 points or 0.69% to stand at 42,468.1. The Second Market Index inched down 54.6 points or 0.04% to reach 136,015.4. The Industry Index was down 152.6 points or 0.3% to close at 50,452.2. The Free Float Index dipped 578.91 points or 0.85% to settle at 67,527.8. The TSE 30 Index fell 19.5 points or 0.74% to end at 2,607.7 and the TSE 50 Index pulled back 10.4 points or 0.41% to close at 2,499.4.
Despite the government’s new move to issue Islamic Treasury Bills to boost fund raising in the economy gripped by credit crunch, investors look set to flee the equity market to the havens of banking deposits with up to 25% interest rate per annum.
More than 399 million shares changed hands, including block trades, valued at $18.06 million.
Bank Saderat and car manufacturer Pars Khodro recorded the highest daily trade volume among listed companies at TSE, mainly on broad selloffs.
About 73% of listed companies ended in red and weighed on the benchmark. Bandar Abbas Oil Refining Company with 36.13 points left the most negative impact on TEDPIX, followed by Bank Mellat and Bank Pasargad with 34 and 25 points respectively.
Mobin Petrochemical Company with 26.65 points provided the biggest boost to TEDPIX and was crowned TSE’s top gainer.  Persian Gulf Petrochemical Industries Company and Mobarakeh Steel Company with 16 and 6 points took the second and third places respectively.

  IFX in Red
Iran Fara Bourse’s overall index lost 13.79 points or 2.03% at Saturday’s close to settle at 664.07.
Around 82% of listed companies ended in red with Kharazmi IT Development Company, Tabas Cola Company and Ballast Company recording the highest price retreat in their shares’ value.
According to IFB report, more than 137 million securities were traded in 17,467 transactions valued at $13.19 million.
Shirvan Sugar Company with transaction of 9.14 million shares worth $741,176 recorded the highest daily trade volume and value.
Taknar Copper Company and Shahroud Industrial Company had the highest growth in their shares’ prices.
Etemad Fund with transaction of 1.37 million shares registered the highest trade volume among listed exchange-traded funds at IFB.
Moreover, 58,800 Treasury Bills worth $1.55 million were traded int Fixed-Income Securities Market.

Short URL : https://goo.gl/HQuUQ6
  1. https://goo.gl/aFALsb
  • https://goo.gl/mnEGsW
  • https://goo.gl/JdA53G
  • https://goo.gl/erqTNW
  • https://goo.gl/0YdJFa

You can also read ...

Europe May Tap Cryptocurrencies to Shield Iran Against US Sanctions
The European Union may opt for digital currencies in its...
Iran’s net hot-rolled coil consumption was 5.6 million tons in 2017, of which 0.8 million tons were imported.
Russia and Kazakhstan are temporarily stepping back on sales...
Secondary Forex Market: Corruption Loopholes Abound
Two goals set have been set for the recent establishment of...
EU foreign policy chief, Federica Mogherini, hailed the imposition of the blocking statute on Monday as a “consistent step forward”.
As it races to save the Iran nuclear deal, the European Union...
Deputy Economy Minister Defends Gov’t Forex Policy
The government’s policy to allocate dollars and euros to...
Colza Production Exceeds Expectations
The government has purchased more than 300,000 tons of colza...
Hashtgerd Subway Station Construction Underway
Iranian authorities are pushing ahead with construction plans...
Interbank Rate Tweak to Impact Interest Rates
Officials at the Central Bank of Iran have announced the...