Economy, Business And Markets

Stocks Snap Losing Trend With Feeble Gains

Stocks Snap Losing Trend With Feeble GainsStocks Snap Losing Trend With Feeble Gains

Tehran Stock Exchange’s primary index TEDPIX inched up 60.70 points or 0.08% to close at 77,106 on Monday, posting its first uptick after seven losing days.

Large-cap telecoms and mining companies were the main force behind the benchmark’s growth.

More than 980 million shares valued at $67.4 million were traded, with daily trade value dropping by about $20 million compared to Sunday.

Zamyad Auto Manufacturing Company was the biggest loser, as it dropped 4.94% to 1,116 rials per share, followed by Qazvin Sugar Company and Ardakan Industrial Tiles Company.

Motorsazan Company posted the biggest gain with shares rising 5% to 2,753 rials each. IRCA Part Sanat Company and Barez Industrial Group ranked second and third respectively.

Iran Mobile Telecommunications Company provided the biggest boost to the benchmark as its shares value rose 2.57%, followed by Telecommunications Company of Iran and Golgohar Mining and Industrial Company, rising 1.55% and 3.01% respectively.

The giant automaker, Iran Khodro, extended its losing streak as its shares value dropped 3.27% to weigh the most on TEDPIX followed by MAPNA Group and Mobarakeh Steel Company with 1.33% and 1.11% respectively.

The Price Index gained 22.90 points or 0.08% to end at 29,070.2. The First Market Index added 63.40 points or 0.12% to reach 53,827.8.

The Second Market Index inched up 7.70 points or 0.01% to register 169,361.7. The Industry Index was up 4.60 points or 0.01% to post 64,444.2

The Free Float Index shed 33.79 points or 0.04% to finish at 85,511.80. The TSE 30 Index was up 1.70 points or 0.05% to hit 3,161.3, while the TSE 50 Index advanced 3.50 points or 0.11% to stand at 3,091.4.

  IFX Past 800 Level

Iran Fara Bourse’s main index IFX scored 5.83 points or 0.73% to stop at 801.27.

Close to 275 million securities valued at $75.7 million were transacted, with the number of traded shares and daily trade value showing significant declines compared to Sunday.

Pars Paper Company, Arfa Steel Company and Novin Insurance had the highest increase in share value. Ravan Fanavar Company, Minoo Food Company and Ballast Company registered the highest declines.

Hormozgan Steel Company registered the highest number of shares traded and daily trade value, as 23 million of its shares worth $1.3 million changed hands. The company gave the biggest lift to IFX.

Over 23 million securities valued at $1.5 million were traded in the First Market. The Second Market was host to the trading of 99 million shares worth $8.4 million.

Etemad Fund registered the highest trade volume among exchange-traded funds with the transaction of 4.2 million of its shares.

Moreover, 395,460 participation bonds of Golgohar Industrial and Mining Company with a three-month maturity were sold out.