Economy, Business And Markets
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TEDPIX Ends Barely in Green

TEDPIX Ends Barely in GreenTEDPIX Ends Barely in Green

Tehran Stock Exchange’s benchmark continued its slow uptrend and inched up slightly on Tuesday, as it rose 15.30 points or 0.02% to end at 63,142.

According to TSE data, the Price Index inched up 6 points or 0.02% to close at 24,732. The First Market Index crawled up 19.90 points or 0.05% to reach 44,006.3. The Second Market Index shed 18.50 points or 0.01% to settle at 139,147.5. The Industry Index rose 51.90 points or 0.10% to stand at 51,978.2.

The Free Float Index dropped 74.22 points or 0.11% to close at 70,414.60. The TSE 30 Index climbed 1.10 points or 0.04% to end at 2,725.5 and the TSE 50 Index increased 1.50 points or 0.06% to end at 2,582.2.

More than 470 million shares changed hands valued at $26.7 million to register 7% increase in trade volume and 45% drop in trade value compared to Monday.

About 56% of listed companies dragged the benchmark down. Bank Tejarat with 22.18 points was the main market laggard followed by Iran Khodro–largest auto manufacturer in Iran with 18.86 points and Bahman Group Company with 10.55 points.

Parsian Oil and Gas Development Company, with a P/E ratio of 5 and 38.38 points, was the main driving force behind TEDPIX’s growth. Iran Mobile Telecommunications Company and Bank Karafarin with 28.94 and 20.04 points followed respectively.

The equity market will grow considerably in the following months, said Minister of Economic Affairs and Finance Ali Tayyebnia on Monday, adding that the implementation of the nuclear deal between Iran and the P5+1 and the government’s recently unveiled measures to end the ongoing recession faced by domestic industries have stabilized the condition of the economy, ending the ambiguities and risk of abrupt losses for investors.

  IFX Down 0.91%

Iran Fara Bourse’s overall index shed 6.46 points or 0.91% to settle Tuesday’s trade at 706.74.

According to IFB, more than 82 million securities valued at $11.5 million were traded.

The highest trade volume was registered for Bank Hekmat Iranian with 6.7 million shares.

Lavan Oil Refining Company registered the highest trade value with more than $974,000 worth of shares changing hands.

The highest rise in shares’ value was recorded for Kerman Development and Construction Company, Taknar Copper Company and Niroo Sarmayeh Company.

Shahrood Industrial Company, Iranian Reinsurance Company and Sobhan Pharmaceutical Company recorded the highest decrease in value.

Isfahan Steel Company, Iran Petrochemicals Investment Company, Bank Day, Iran Cultural Heritage and Tourism Investment Group Company, Shirvan Sugar Company, Tehran Oil Refining Company and Lavan Oil Refining Company were also on investors’ radar.

Etemad Fund, with transaction of 357,680 units, registered the highest trade volume among listed exchange-traded funds.

Furthermore, 793,840 leasing bonds of RighTel Company were sold out.

Financialtribune.com