Tehran Stock Exchange ended Wednesday trade flat, as the main index TEDPIX inched up 11.50 points or 0.02% to settle at 71,011 at the day’s close, a day after it surged more than 2,000 points to record the highest gain since December 2014.
The petrochemical and auto sectors were in the spotlight on Wednesday trade. Persian Gulf Petrochemical Industries Company extended its positive performance on Tuesday and gave a 155-point boost to the benchmark.
SAIPA, one of Iran’s largest auto manufacturers, was also high on investors’ radar.
According to Moslem Peymani, an official with the Securities and Exchange Organization, the market “normalization” was predictable, as the benchmark’s earlier sprinting trend, deemed by experts to be based mostly on shortlived psychological factors, had to eventually calm down.
Peymani added that small, non-intuitional investors accounted for close to $149 million of Wednesday’s trade value, which he described as a sign of liquidity injection by fresh investors who will benefit the market in the long run.
Managing Director of Bank Ayandeh Brokerage Fardin Aghabozorgi was also optimistic about the market’s long-term performance, with regard to the prospective inflow of foreign investors in the new economic climate following the lifting of western sanctions against Iran over its nuclear energy program.
Wednesday Trading Report
More than 3.2 billion shares valued at $230.4 million were traded, as daily trade volume and value jumped 130% and 180% compared to the prior trading day respectively.
The Price Index crawled up 4.40 points or 0.02% to end at 27,249.6.
The First Market Index was down 6.60 points or 0.01% to settle at 48,416.2.
The Second Market Index gained 109 points or 0.07% to reach 156,969.
The Industry Index shed 35.73 points or 0.04% to close at 58,630.1.
The Free Float Index lost 35.73 points or 0.04% to finish at 79,361.10.
The TSE 30 Index withdrew 2 points or 0.07% to post 3,036.1 while the TSE 50 Index inched up 1.40 points or 0.05% to register 2,884.4.
Persian Gulf Petrochemical Industries Company provided the biggest boost to TEDPIX with 155.25 points. Chadormalu Mining and Industrial Company and Bank Tejarat followed with 45.1 and 42.67 points respectively.
Mobarakeh Steel Company, with a P/E ratio of 9 and 91.03 points, had the most downbeat performance, followed by Tamin Oil, Gas and Petrochemical Investment Company and Parsian Oil and Gas Development Company with 85.29 and 79.41 points respectively.
IFX Dips
Iran Fara Bourse’s main index IFX shed 5.16 or 0.68% to end at 756.48.
According to IFB, close to 433 million securities valued at $95.4 million were traded, with daily trade value nearly doubling compared to Tuesday’s figures.
Sobhan Investment Company recorded the highest trade volume of the day as it filed the transaction of 52 million shares.
Minoo Industrial Company, Marjankar Company, Tadbirgaran-e Fars and Khuzestan had the highest increase in shares’ value.
Etela Alborz Investment Company, KBC Company and Arfa Steel Company witnessed the highest decline.
Esfahan Steel Company, Bank Day and Tehran Oil Refining Company were also on investors’ radar.
Etemad Fund, with the transaction of 1.1 million shares registered the highest trade volume among listed exchange-traded funds. About 400,000 participation bonds of Narenjestan Housing Project were also sold out.
