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TEDPIX Seesaw Session

TEDPIX Seesaw SessionTEDPIX Seesaw Session

Stocks at the Tehran Stock Exchange (TSE) failed rally for a second straight day, after most of the listed stocks had a mixed trading day, with the TEDPIX inching up only 0.01 percent.

The TSE initiated an uptrend at the beginning of the day, while the uncertainty dragged the market lower, ending the day flat.

According to the TSE’s website, the exchange’s benchmark edged up 8.9 points or 0.01 percent, to finish at 73,967.8. The first market index lost 5.4 points or 0.01 percent to end on 54,649.4. The second market index gained 95.9 points or 0.07 percent to 144,435.9. The free floating index inched down 15.15 points or 0.02 percent to end at 84,312.6. The industry index rose 40.5 points or 0.06 percent to settle at 62,431.7, and the blue chip index fell 5.1 points or 0.15 percent to 3,406.9.

Despite yesterday’s upward trend, the trade volume and value slipped, as 511 million share traded, valued at almost 1.5 trillion rials.

Islamic Republic of Iran Shipping Lines (IRISL) had the most positive contribution to the TEDPIX uptrend by a 51.77 percent, while Persian Gulf Petrochemical Industries Company was the market laggard, with a 63.39 percent negative impact on the TSE’s gauge.

The TSE had rip-roaring trading sessions over the last few days, as its benchmark surged more than 2 percent, while the unsettled investors turned more cautious to circumvent a potential unprecedented fall.

These days, investors, brokers and stocks in general are a little wobbly due to the ongoing talks between Iran and the P5+1 and their final outcome in the coming weeks.

Financialtribune.com