Economy, Business And Markets

TEDPIX Fails to Lift

TEDPIX Fails to LiftTEDPIX Fails to Lift

An early rally at Tehran Stock Exchange on Saturday dissipated by midday amid lingering worries, with the TSE gauge inching up 7.1 points or 0.01% at the day’s close to stand at 61,396.9.

As TSE data illustrate, the Price Index picked up 2.8 points or 0.01% to end at 24,050.5. The First Market Index edged up 12.1 points or 0.03% to close at 42,545.8. The Second Market Index fell 23.7 points or 0.02% to reach 136,676.3. The Industry Index was down 9.4 points or 0.02% to stand at 50,650.2. The Free Float Index gained 41.89 points or 0.06 to settle at 67,716.6.

The TSE 30 Index rose 4.1 points or 0.16% to close at 2,626.2 and the TSE 50 Index added 0.5 point or 0.02% to settle at 2,510.5.

Investors shrugged off upbeat news about a probable interest rate and feedstock prices cut in addition to oil rebound in global markets, leading to a sluggish trade at TSE.

More than 242 million shares changed hands valued at $12.27 million to underscore the investors’ skittish mood and a light retreat in trade volume and value compared to Wednesday.

Around 58% of listed companies weighed on the benchmark. Iran Transfo Corporation with 13.78 points was the biggest laggard followed by Iran Khodro and Golgohar Mining and Industrial Company with 12.62 and 9.54 points respectively.

Close to 33% of listed companied outperformed with commodity-based companies on top. National Iranian Copper Industries Company with 60.87 points was crowned as TSE’s top gainer as investors lined up to garner its share at rock-bottom values amid a rebound in oil market. Bank Mellat and Mines and Metals Development Investment Company with 8.41 and 7.17 points took the second and third places respectively.

 IFX in Green

Iran Fara Bourse’s overall index, IFX, rose 6.68 points or 0.99% on Saturday trade to close at 679.77.

As IFB reported, more than 66.5 million securities worth $8.5 million were traded.

The highest daily trade volume and value was recorded for Tehran Oil Refining Company with 4 million shares worth $424,207.

Zarin Madan Company, Zangan Zinc Company and Lavan Oil Refining Company had the highest rise in their shares prices. Ghasem Iran Company, Shahroud Industrial Company and Kosar Financial Credit Institution recorded the highest retreat.

Tehran Oil Refining Company, Lavan Oil Refining Company, Isfahan Steel Company, Iranian Petrochemical Investment Group, Bank Day, Shirvan Sugar Company and Pegah Fars Milk Company were also on investors’ radar.

Etemad Fund, with transactions of 1.49 million units, registered the highest trade volume among listed exchange-traded funds. MAPNA Group with sales of 32,500 Ijarah bonds with three-month maturity registered the highest daily trade volume at the Fixed-Income Securities Market.