Economy, Business And Markets

TEDPIX Sheds 213 points

TEDPIX Sheds 213 pointsTEDPIX Sheds 213 points

Tehran Stock Exchange’s main index TEDPIX shed 213.10 points or 0.26% to close Wednesday trade at 80,752.7.

The benchmark broke above the 81,000 resistance level during the first hours of trade, but losses incurred by petrochemical companies and telecoms dragged down the benchmark.

Ceramic and fiber manufacturing companies, as well as construction firms, posted the highest gains of the day, TSE’s website reported.

More than 1.4 billion shares valued at $134 million were traded on Wednesday. The number of shares traded rose by two million and daily trade value jumped more than 50% compared to Tuesday.

Abadan Petrochemical Company was the main loser of the day, as its shares went down 7.11% to reach 2,390 rials each, while Ardakan Industrial Ceramics Company’s went up 29.97% to close at 40,710 rials per share.

Persian Gulf Petrochemical Industries Company was the biggest market laggard as it dragged down TEDPIX by 103.02 points. It was followed by Iran Mobile Telecommunications Company and National Iranian Copper Industries Company with 69.92 and 56.2 points respectively.

SAIPA provided the biggest boost to the benchmark with 64.54 points. Eghtesad Novin Bank and Tamin Oil, Gas and Petrochemical Investment Company came next with 25.66 and 19.13 points respectively.

The Price Index wiped 81 points or 0.26% to finish at 30,704.1.

The First market Index retreated 84.20 points or 0.15% to post 56,941.3.

The Second Market Index lost 851.60 points or 0.49% to register 174,026.4.

The Industry Index was down 188.30 points or 0.28% to reach 67,192.7.

The Free Float Index shed 120.51 points or 0.13% to record 92,935.

The TSE 30 Index withdrew 22.10 points or 0.65% to settle at 3,363.8 while the TSE 50 Index lost 15.30 points or 0.47% to hit 3,252.7.

  IFX Down 0.19%

Iran Fara Bourse’s main index IFX inched down 1.52 points or 0.19% to settle at 807.04.

Over 547 million securities valued at $41 million were traded in 43,000 transactions, with daily trade value rising by more than $10 million compared to Tuesday.

For the fourth day in a row, Esfahan Steel Company recorded the highest number of shares traded and highest daily trade value, as 53.9 million of its shares valued at $4.1 million changed hands.

Rail Pardaz Seir Company, Gostaresh Sarmayehgozari Iranian Company and Amin Reinsurance Company posted the highest rise in share value. Tadbirgaran Fars and Khuzestan Company, Kosar Financial Credit Institution and Ravan Fanavar Engineering Company had the highest decline.

Marun Petrochemical Company was the main laggard behind IFX.

Etemad Fund, with the transaction of 2.2 million of its shares, registered the highest trade volume among listed exchange-traded funds. Moreover, 2,000 murabaha bonds of Megamotor with a three-month maturity were sold out.