TSE Benchmark Sinks  to 3-Month Low
Economy, Business And Markets

TSE Benchmark Sinks to 3-Month Low

Considerable losses by large-cap banks, petrochemical companies and auto manufacturers dragged Tehran Stock Exchange's benchmark down to a three-month low on Saturday.
Over 60% of listed companies filed losses, with packaging and industrial companies as well as industrial holdings on top.
TSE's all-share index, TEDPIX, fell 609.90 points or 0.78% to end Saturday trade at 77,423.9 points.   
The number of shares traded and daily trade value remained relatively unchanged compared to the prior trading day. More than 1 billion shares changed hands worth $96.2 million, according to TSE data.
Iran Carton Company was the biggest loser as its shares dropped 4.97% to 3,018 rials each, followed by Toos Gostar Urban Development Company and Melli Industrial Holding.
At the other end of the spectrum, Iran Tractor Forging Company posted the biggest gains as its shares jumped 5% to 3,236 rials each. Iran Casting Industries Company and Sina Chemical Industries Company came next.
Bank Mellat, with a P/E ratio of 5 and -53.34 points, weighed most on TEDPIX, followed closely by Persian Gulf Petrochemical Industries Company and Iran Khodro–the country's largest automaker–with -50.58 and -49.95 points respectively.
Islamic Republic of Iran Shipping Lines Company, with a P/E ratio of 41, gave the biggest boost to the benchmark by 41.83 points. Parsian Oil and Gas Development Company and Mobin Petrochemical Company came next with 12.1 and 11.8 points respectively.
The Price index shed 230.10 points or 0.78% to close at 29,210.7.
The First Market Index lost 509.20 points or 0.93% to reach 53,126.5.
The Second Market Index was down 841.40 points or 0.49% to finish at 169,602.6.
The Industry Index gave up 413.50 points or 0.63% to settle at 64,776.9.
The Free Float Index withdrew by 974.88 points or 1.12% to register 86,153.90.
The TSE 30 Index retreated by 36.10 points or 1.12% to end at 3,188.3, while the TSE 50 Index lost 27 points or 0.86% to hit 3,109.4.

> IFB Dips Lower

The Iran Fara Bourse over-the-counter market also fell on Saturday, though its losses were limited. Its primary index IFX wiped 2.11 points or 0.26% to end at 796.38 points.
Over 233 million securities valued at $40.5 million were traded in 23,000 transactions, according to IFB.
Arfa Steel Company recorded the day's highest number of traded shares and daily trade value, as 19.7 million of its shares worth $4.6 million changed hands.
Novin Insurance, Hormozgan Steel and Minoo Food Company had the highest rise in share value. Niroo Sarmayeh Company, Afranet Company and Shahed Construction and Development Company experienced the biggest losses.
Tehran and Lavan oil refining companies were the main market laggards.
Etemad Fund, with the transaction of 3.4 million of its shares, registered the highest trade volume among listed exchange-traded funds. Moreover, 425,074 participation bonds of Golgohar Mining and Industrial Company with a three-month maturity were sold out.

Short URL : http://goo.gl/ys3JwS
  1. http://goo.gl/1F1w1M
  • http://goo.gl/8KRkRh
  • http://goo.gl/j0RVKv
  • http://goo.gl/sHGylg
  • http://goo.gl/5YkvBq

You can also read ...

The investment contract of Majlesi has already been signed.
Seeking to build environment friendly cities with strong...
China to Set Up Hypermarket in Tehran
Beijing Construction Engineering Group will establish a “...
Persian hand-woven carpet exports declined significantly due to international sanctions imposed on Iran over its nuclear program.
Iran is the biggest exporter of hand-woven carpets and holds a...
President Hassan Rouhani addresses the parliament on Aug. 15.
The Iranian banking system has been combating a variety of...
EEU Expects to Sign Free Trade Deal With Iran This Year
A temporary agreement on establishing a free trade zone...
Geneva Conference to Take Stock of Post-Sanctions Economy
A conference on Iran’s post-sanctions economy is scheduled be...
Rate Unification Tops New CBI Deputy’s To-Do List
Following last week’s appointment of Seyyed Ahmad Araqchi as...
Gadkari Visit Signals India Committed to Strong Ties
New Delhi must work with the government of President Hassan...