Economy, Business And Markets

TSE Overrun by Bears

TSE Overrun by BearsTSE Overrun by Bears

Tehran Stock Exchange’s main index TEDPIX plummeted 104.30 points or 0.17% to close Tuesday trade at 61,414.2.

More than 335 million shares changed hands valued at $19.1 million with daily trade value nosediving by 70% compared to Monday.

The Price Index dropped 40.60 points or 0.17% to end at 23,906.9. The First Market Index shed 26.90 points or 0.06% to reach 42,162.2. The Second Market Index plunged 196.60 points or 0.36% to close at 139,959.4. The Industry Index was down 87.10 points or 0.17% to register 50,992.5.

The Free Float Index lost 104.82 points or 0.16% to record 67,041.80. The TSE 30 Index was down 3.50 points or 0.14% to hit 2,570.1, and the TSE 50 Index lost 4.70 points or 0.19% to finish at 2,498.8.

More than half of the listed companies worked against the benchmark. Iranian Shipping Lines Company, with a P/E ratio of 33 and 62.92 points, was the biggest market laggard, followed by Bank Karafarin and Pardis Petrochemical Company with 28.3 and 8.88 points respectively.

Mobarakeh Steel Company with 29.48 points provided the biggest boost to TEDPIX. National Iranian Copper Industries Company and Iran Telecommunications Company with 18.06 and 11.67 points took the second and third ranks respectively.

 IFX Up 0.23%

Iran Fara Bourse’s all-share index IFX rose 1.56 points or 0.23% to settle Tuesday trade at 676.32.

According to IFB, over 144.15 million shares were transacted valued at $57.2 million.

Kimia Zanjan Gostaran Industrial and Mining Company recorded the highest trade volume and value of the day with 11.5 million shares worth more than $1.1 million changing hands.

Zarin Madan Asia Mining Company, Shirvan Sugar Company and Tourism Bank registered the highest increase in shares’ value.

Mihan Insurance, ASP Construction Company and Ravan Fanavar Engineering Company recorded the highest decline.

Middle East Mines and Mineral Industries Development Holding Company, Tourism Bank and Isfahan Steel Company gave the biggest lift to IFX.

Etemad Fund, with the transaction of 21.4 million shares, registered the highest trade volume among listed exchange-traded funds.

Moreover, 1 million participation bonds of Shiraz City Municipality were sold out.