Economy, Business And Markets

TEDPIX Notches Down on Mining Losses

TEDPIX Notches Down on Mining Losses
TEDPIX Notches Down on Mining Losses

Tehran Stock Exchange’s primary index TEDPIX lost 275.40 points or 0.36% on Sunday to wipe the previous day’s feeble gains and close at 75,863.2. Mining and investment companies had the most negative impact on the benchmark.

Over 65% of the companies listed at TSE recorded losses with chemical, mining and cement companies ahead of the pack.

Close to 1.5 billion shares valued at $91 million were transacted for the day, with both the number of traded shares and daily trade value more than doubling compared to the previous trading day.

Sina Chemical Industries Company had the most drop in share value, as it went down 5% to 16,750 rials per share. It was followed by Mines and Metals Development Investment Company and Karoun Cement Company.

Zar Spring Company was the leader of the day, going up 5% to 2,585 rials per share, followed by Persian Gulf International Transportation Company and Glucosan Company.

Chadormalu and Gologhar mining and industrial companies, two of TSE’s largest mining firms, were the biggest laggards as they dropped 4.86% and 3.37% to 1,996 and 2,147 rials per share respectively. They were followed by Omid Investment Company with its shares losing 3.37% to 1,863 rials each.

The heavyweight Telecommunications Company of Iran’s gave the biggest lift to TEDPIX by going up 1.36% to 2,529 rials per share. It was followed by Iran Khodro and Esfahan Oil Refining Company. The Price Index gave up 103.70 points or 0.36% to end at 28,583.6. The First Market Index shed 175 points or 0.33% to settle at 52,883.8. The Second Market Index plummeted by 707.90 points or 0.42% to reach 167,088.1. The Industry Index wiped 192 points or 0.30% to register 63,366.5.

The Free Float Index sank 290.64 points or 0.34% to post 84,198. The TSE 30 Index dropped by 6.40 points or 0.21% to record 3,115 while the TSE 50 Index lost 10.40 points or 0.34% to finish at 3,038.2.

  IFX Shy of 800

Iran Fara Bourse’s all-share index inched up 1.85 points or 0.23% to close at 798.96.

More than 420 million securities worth $59.6 million were traded in 38,000 transactions, with the number of shares traded growing by over 50 million compared to the prior trading day.

Esfahan Steel Company recorded the day’s highest number of shares traded and highest daily trade value with 153.7 million shares worth $13.6 million changing hands.

Tabas Coal Company, and Esfahan and Hormozgan steel companies posted the highest increase in share value. Niroo Sarmayeh Company, Novin Insurance and Marjankar Company recorded the biggest losses.

Over 18 million securities valued at $914,000 were traded in the First Market, with Sobhan Investment Company accounting for the highest number of shares traded.

Furthermore, the Second Market played host to trading of 296 million securities valued at $24 million.

Etemad Fund recorded the highest trade volume among exchange-traded funds with the transaction of 4.8 million of its shares.