Economy, Business And Markets

TEDPIX Sheds 98.70 Points

TEDPIX Sheds 98.70 PointsTEDPIX Sheds 98.70 Points

Tehran Stock Exchange’s main index TEDPIX lost 98.70 points or 0.12% to settle Saturday trade at 80,654.0. Copper, oil and gas as well as telecommunications companies weighed most on the benchmark.

Close to 1.1 billion shares valued at $83.5 million changed hands, with the number of shares traded and daily trade value registering significant declines compared to the prior trading day.

Ilam Cement Company registered the highest loss in the value of shares as they plunged 4.99% to 5,142 rials each. Nine other cement companies posted big losses.

SAIPA was the main winner of the day as its shares went up 5% to 1,660 rials each, followed by Navard Aluminum Company, also rising 5% to 1,156 rials per share. SAIPA also gave the biggest boost to TEDPIX (71.89 points).

National Iran Copper Industries Company was the main laggard behind TEDPIX by -63.36 points.

As for other indices, the Price Index shed 37.60 points or 0.12% to close at 30,665.8.

The First Market Index wiped 54.90 points or 0.10% to finish at 56,886.4.

The Second Market Index withdrew 299.50 points or 0.17% to settle at 173,726.5.

The Industry Index lost 157.50 points or 0.23% to post 67,035.2.

The Free Float Index was the only index posting gains among all indices as it went up 92.56 points or 0.10% to reach 93,027.60.

The TSE 30 Index fell 0.40 points or 0.01% to register 3,363.4 while the TSE 50 Index inched down 2.80 points or 0.09% to finish at 3,249.9.

IFX Snaps Losing Trend

Iran Fara Bourse’s primary index IFX snapped last week’s losing streak and added 4.54 points or 0.56% to record 811.58.

More than 316 million securities valued at $65.6 million changed hands in 39,000 transactions. The number of shares traded dropped by over 200 million compared to Wednesday trade. Daily trade value rose by more than 20%, according to IFB data.

Esfahan Steel Company remained on top of the charts as it recorded the day’s highest number of shares traded with 54 million of its shares transacted.

Marun Petrochemical Company, with the trading of $6.6 million of its shares, posted the highest daily trade value.

Sobhan Pharmaceutical Company, Ravan Fanavar Engineering Company and Kharazmi Informatics Company recorded the highest increase in shares’ value.

Sabzevar Cement Company, Tehran Housing Investment Company and Kosar Insurance experienced the highest decline.

Etemad Fund, with the transaction of 3 million of its shares, registered the highest trade volume amid listed exchange-traded funds. Moreover, 50,000 leasing bonds of Dana System Company were sold out.