Economy, Business And Markets

TEDPIX Posts Small Gains

TEDPIX Posts Small Gains
TEDPIX Posts Small Gains

The stocks at the Tehran stock Exchange (TSE) rose briefly in the past week (ending October 15) as the TEDPIX was up by a 0.27 percent to keep posting brief weekly gains in the past few weeks.

According to the TSE’s website, most of the stock market indices positively contributed to the overall index’s upward trend.

The TEDPIX rose 195 points or 0.27 percent to 71,978.6. The first market index gained 247 points or 0.47 percent to 52,934.6. The second market index slipped 276 points or 0.19 percent to 142,160.1. The free floating index hiked 430 points or 0.53 percent to 81,208.8. The industry index pulled higher 137 points or 0.22 percent to 61,058. The financial index rose 725 points or 0.56 percent to 129,230.3, and the blue chip index inched up 3 points or 0.10 percent to 3,290.

Despite the function of indices, which mostly finished in green, the trading volume and value fell down. More than 1.7 trillion shares changed hands in the week, indicating a 29 percent decline compared to one week earlier. The trading value briefly slipped by 1.2 percent.

Eventually, TEDPIX managed to keep wiping out the losses as the equity market was falling down within the past six months.

The TSE’s benchmark has lost more than 9 percent during the six months ending September 22, while the TEDPIX’s gains in recent weeks pull the rate down to 8.9 percent.

The equity market turbulences made shaky investor more cautious about their trades at the stock market as most of them have shifted to small industries. Pioneers are stuck in the slump as their business is associated to the global market fluctuations as well, while the small industries are more flexible and bear more profit for their investors in a short run.

Individual market traders eye the latest developments in the country, while they prefer not to engage in trades. Such behavior has been contagious as low trade volume is suggesting so. However, financial institutions have the most contribution to the TSE trades.