Economy, Business And Markets

Lackluster Day for TSE, IFB

Lackluster Day for TSE, IFBLackluster Day for TSE, IFB

Tehran Stock Exchange’s main index TEDPIX crawled up 49 points or 0.06% to end at 77,697.8, with telecoms and petrochemicals companies spearheading Wednesday’s seesaw growth.

The market’s gains were mostly canceled out as 60% of companies on TSE’s board had a downbeat performance.

Close to 2 billion shares changed hands on Wednesday, worth $149 million, as the number of shares traded doubled and daily trade value rose over $50 million compared to Tuesday.

The Price Index inched up 18.70 points or 0.06% to settle at 29,744.1 points.

The First Market Index lost 19.50 points or 0.04% to stop at 53,686.5 points.

The Second Market Index posted the highest growth compared to other indices, as it won 429.30 points or 0.25% to stand at 174,033.3 points.

The Industry Index gained 92.10 points or 0.14% to reach 64,788.4 points.

The Free Float Index was down 26.01 points or 0.03% to close at 86,948.80 points.

The TSE 30 Index retreated 3.80 points or 0.12% to 3,265 points, while the TSE 50 Index inched up 2.40 points or 0.08% to record 3,143.6 points.

Fajr Petrochemical Company was the biggest market laggard as it lost 5% to close at 14,588 rials per share, followed by Tabas Coal Company and Khavar Spring Manufacturing Company.

Iran Telecommunications Company gave the biggest lift to TEDPIX with 42.49 points. Ghadir Investment Company and Fajr Petrochemical Company took the second and third spots with 36.28 and 25.64 points respectively.

  IFX Slips 0.71%

Iran Fara Bourse’s all-share index IFX retreated 5.88 points or 0.71% to settle at 822.2 points.

According to IFB, more than 258 million securities valued at $67.7 million were traded, the number of shares traded were halved and daily trade value grew about 25% compared to the prior trading day.

Gostaresh Tejarat va Sarmayeh Iranian Company took the crown for the highest number of shares traded, as 26.7 million of its shares changed hands, while Fanava Company posted the highest trade value of the day with the transaction of $2.2 million of its shares.

Kerman Development and Construction Company, Niroo Sarmayeh Company and Minoo Industrial Company had the highest increase in shares’ value. Fanava Company, Novin Insurance and Alborz Bulk Company experienced the highest decline.

Middle East Mines and Mineral Industries Development Holding Company and Tehran Oil Refining Company weighed in the most on IFX.

Close to 39 million securities valued at $2.4 million were traded at the First Market with Tehran Housing Investment Company accounting for the highest number of shares traded and trade value.

The Second Market witnessed the trading of 86 million securities valued at $7 million. Iranian Petrochemical Investment Company posted the highest number of shares traded and trade value.

Etemad Fund, with the transaction of 5.1 million shares, registered the highest trade volume and value among listed exchange-traded funds. In addition, 1.6 million Islamic Treasury Bills were sold on Wednesday.