Economy, Business And Markets

TSE, IFB Edge Lower

TSE, IFB Edge LowerTSE, IFB Edge Lower

Tehran Stock Exchange’s main index TEDPIX retreated 194.60 points or 0.25% to end at 77,539.2 points on Monday, as the morbid mood in equity markets persisted and led to a decline in 60% of the companies listed on the exchange.

Close to 1.6 billion shares worth $124.2 million changed hands, with the number of shares traded edging up slightly while daily trade value dropped about $45 million.

The Price Index lost 74.60 points or a quarter of a percent to end at 29,705.4 points. The First Market Index went down 226.70 points or 0.42% to finish at 53,765.7 points.

Contrariwise, the Second Market Index edged up 116.20 points or 0.07% and closed at 172.549 points.

The Industry Index was down 60.50 points or 0.09% and closed the session at 64,648 points.

The Free Float Index, by far the best indicator of TSE’s movements, shed 338.92 points or 0.39% and posted 86,876 points, which is a six-day low. The TSE 30 Index slipped 18.50 points or 0.56% to reach 3,260.8 points, while the TSE 50 Index dropped 11.70 points or 0.37% to settle at 3,136.2 points.

Esfahan Oil Refining Company was the biggest market laggard and tumbled 5% to 3,374 rials per share, followed by Tamin Oil, Gas and Petrochemical Investment Company (Tapico) and Bandar Abbas Oil Refining Company with a 2.17% and 3.92% decline in share value, respectively.

Persian Gulf Petrochemical Industries Company provided the biggest boost to TEDPIX with 56.66 points. The petrochemical producer’s shares rose 4.17% for the day. Rena Investment Company and Iran Telecommunications Company followed with 54.39 and 51.98 point contributions to the index, respectively.

  IFX Down 1%

Iran Fara Bourse’s benchmark index IFX shed 8.9 points or 1.06% to settle at 831.08 points on Monday.

Close to 780 million securities valued at $1.02 billion were traded in 27,000 transactions, with the number of shares traded surging a whopping 215% and trade value skyrocketing more than 10 times.

Sunday’s chart-toppers returned as Iranian Petrochemical Investment Company traded the day’s largest number of shares with the transaction of 44.2 million of its shares, while Lavan Oil Refining Company posted the highest trade value of $3 million.

Shahed Development and Construction Company, Tehran Housing Investment Company and Karafarin Insurance gained the most. Novin Insurance, Minoo Industrial Company and Minoo Shargh Company registered the largest decline.

Tehran Oil Refining Company, Iranian Petrochemical Investment Company and Lavan Oil Refining Company had the most negative impact on IFX.

The First Market Index witnessed the trading of 89 million securities valued at $5.7 million, with Tehran Housing Investment Company accounting for the largest number of shares traded and the highest trade value. Moreover, 122 million securities valued at $11.4 million changed hands in the Second Market.

Pegah Fars Company, Tuka Paint Company and Tabas Coal Company posted the highest increase in shares’ value.

Etemad Fund, with the transaction of 7.2 million shares, registered the highest trade volume among listed exchange-traded funds. In addition, 130,000 Islamic Treasury Bills valued at $3.2 million were sold on Monday, Feb. 29.