Economy, Business And Markets

TEDPIX Keeps Retreating

TEDPIX Keeps RetreatingTEDPIX Keeps Retreating

Tehran Stock Exchange’s main index extended its losing streak on Wednesday, as it shed 142.30 points or 0.23% to end at 62,871.3.

More than 356 million shares valued at over $20.8 million changed hands to record insignificant changes in daily trade volume and value compared to Tuesday.

All indices ended in the red. The Price Index dropped 55.50 points or 0.23% to settle at 24,485.4. The First Market Index was down 84.70 points or 0.19% to close at 43,618.4. The Second Market Index retreated 398.10 points or 0.28% to reach 139,703.9. The Industry Index fell 76.30 points or 0.15% to register 52,065.2.

The Free Float Index lost 162.30 points or 0.23% to record 69,706.90. The TSE 30 Index shed 10.50 points or 0.39% to drop to 2,680.7, and the TSE 50 Index stepped back 7.90 points or 0.31% to end at 2,561.6.

More than half of the listed companies worked against the benchmark. Mobile Telecommunications of Iran with 48.69 points was the main laggard followed by Tamin Oil, Gas and Petrochemical Investment Company and Bank Mellat with 24.12 and 23.1 points respectively.

Parsian Oil and Gas Development Company, with a P/E ratio of 6 and 16.84 points, provided the biggest boost to TEDPIX followed by Shiraz Petrochemical Company and National Iranian Copper Industries Company with 9.9 and 7.02 points respectively.

  IFX Barely in Green

Iran Fara Bourse’s overall index managed to crawl up 0.67 points or 0.1% to close Wednesday trade at 702.22.

According to IFB, over 146.6 million securities valued at more than $39.2 million changed hands to record a 50% rise in volume and value compared to Tuesday.

The highest daily trade volume was recorded for Iranian Petrochemical Investment Company with the transaction of 4.1 million shares.

Lavan Oil Refining Company registered the highest trade value of the day with $411,470 worth of its shares changing hands.

The highest increase in shares’ value was filed for Ballast Company, Ravan Fanavar Company and Mavad-e Vizhe Lia Company.

Minoo Industrial Company, Lavan Oil Refining Company and Fanava Telecommunications Group recorded the highest decline in value.

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

Etemad Fund, with the transaction of 6.7 million shares, registered the highest trade volume among listed exchange-traded funds. Furthermore, 900,000 leasing bonds of RighTel were sold out.