Economy, Business And Markets

TSE Snaps Winning Streak

TSE Snaps Winning StreakTSE Snaps Winning Streak

Tehran Stock Exchange’s all-share index TEDPIX lost 304.60 points or 0.47% to settle Monday trade at 65,119.5.

The decline comes after stock performed seven days of rallies in the runup to and after the UN nuclear agency IAEA’s Saturday announcement that Iran has lived up to its promise of limiting its nuclear program, which officially marked the end of sanctions. The TSE gauge rose 2.1% on Saturday.

More than 1.2 billion shares valued at $62.2 million changed hands on Monday, as daily trade volume and value fell nearly 45% and 35% respectively compared to Sunday’s figures.

The Price Index shed 117.70 points or 0.47% to end at 25,170.5.

The First Market Index lost 279.10 points or 0.62% to settle at 44,718.1

The Second Market Index was down 281.60 points or 0.19% to finish at 147,373.4.

The Industry Index fell 123.40 points or 0.23% to post 53,849.6.

The Free Float Index withdrew 636.80 points or 0.88% to reach 71,998.70.

The TSE 30 Index was down 24.20 points or 0.87% to register 2,753.1.

And the TSE 50 Index lost 10.40 points or 0.39% to end at 2,640.5.

Close to 70% of the listed companies worked against the benchmark.

Parsian Oil and Gas Development Company was the worst performer with 100.4 points, followed by Tamin Oil, Gas and Petrochemical Investment Company and Bank Pasargad with 99.77 and 36.92 points respectively.

Persian Gulf Petrochemical Industries Company, with a P/E ratio of 6, gave the biggest boost to TEDPIX by 90.35 points. Iran Telecommunications Company and Iran Mobile Telecommunications Company followed by 37.2 and 34.47 points respectively.

  IFX Down 1.63%

Iran Fara Bourse’s main index IFX lost 11.76 points or 1.63% to end at 711.3.

Over 276 million securities were traded in 29,000 transactions worth $41 million, filing a nearly 15% drop in daily trade value compared to Sunday.

Amin Reinsurance recorded the highest trade volume and value of the day for the second day in a row, with 38.7 million shares worth $1.8 million changing hands respectively.

Gostaresh-e Tejarat va Sarmayeh Iranian Company, Bank Day and Niroo Sarmayeh Company registered the highest rise in shares’ value.

Kerman Development and Construction Company, Shahrood Industrial Company and Mihan Insurance saw the highest decline.

Etemad Fund, with the transaction of six million shares, registered the highest trade volume among listed exchange-traded funds. Moreover, 755,510 participation bonds of Mashhad Majd Construction Project were sold out.