Economy, Business And Markets

Stocks End Saturday Flat

Stocks End Saturday FlatStocks End Saturday Flat

Tehran Stock Exchange’s main index inched up 35 points or 0.05% to close trade at 76,448 on Saturday.

Robust gains by auto manufacturers, large-cap engineering holdings and investment companies were mostly negated by falling oil, steel and shipping firms, which led to TEDPIX’s lackluster performance.

Over 620 million shares valued at $47.4 million were traded, with the number of shares traded and daily trade value posting significant drops compared to the prior trading day (May 18).

Mashhad Wheel Manufacturing Company was the day’s biggest riser, as its shares went up 5% to 1,114 rials each. It was followed by Iran Electricity Meter Manufacturing Company and Pars Refractories Company.

Saipa Azin Company recorded the biggest losses as it went down 4.93% to 1,156 rials per share, tailed by Tabriz Oil Refining Company and Iran Radiator Company.

Giant auto manufacturer Iran Khodro provided the biggest boost to the benchmark as its shares rose 3.50% to 3,612 rials each. MAPNA Group and Ghadir Investment Group came next.

Bandar Abbas Oil Refining Company was the biggest laggard, going down 2.51% to 4,825 rials per share, followed by Mobarakeh Steel Company and Islamic Republic of Iran Shipping Lines Company.

The Price Index shed 225.59 points or 0.79% to stop at 28,348.70.

The First Market Index was up 54 points or 0.10% to reach 53,518.90.

The Second Market Index gave up 96.93 points or 0.06% to settle at 167,026.

The Industry Index scored 20.99 points or 0.03% to register 63,817.50.

The Free Float Index advanced 168.84 points or 0.20% to hit 85,096.80.

The TSE 30 Index lost 1.20 points or 0.04% to finish at 3,137 while the TSE 50 Index inched down 0.40 points or 0.01% to post 3,058.70.

  IFX Down 6 Points

Iran Fara Bourse’s main index inched down 6 points or 0.8% to end Saturday trade at 812.40

Over 320 million securities valued at $18.4 million changed hands in 23,000 transactions. Daily trade value shrank by over $25 million, while the number of traded shares was relatively unchanged compared to Wednesday.

Kosar Finance and Credit Institute posted the highest number of shares traded, as 30 million of its shares changed hands.

Esfahan Steel Company registered the highest daily trade value, with transaction of $1.8 million of its shares.

Tabas Coal Company, Tadbirgaran Fars and Khuzestan Company and Pegah Company recorded the biggest increase in share value. Tuka Paint Company, Shiraz Oil Refining Company and Middle East Mines and Mineral Industries Development Holding Company experienced the biggest declines.

Bank Day, Tehran Housing Investment Company and Lavan Oil Refining Company were also on investors’ radar.

The First Market witnessed the trading of 18 million securities valued at $1 million, while over 12 million securities worth $7.8 million changed hands in the Second Market.