Economy, Business And Markets

TEDPIX Gives Up 60 Points

TEDPIX Gives Up 60 PointsTEDPIX Gives Up 60 Points

TEDPIX, Tehran Stock Exchange’s primary index, inched down 60 points or 0.08% to close Wednesday trade at 76,084.2.

Losses incurred by oil and gas companies, banks and shipping firms were the main cause of the benchmark’s lackluster performance.

Over 860 million shares valued at $50.9 million were traded, with both the number of shares traded and daily trade value remaining nearly the same compared to Tuesday.

Pars Shahab Company posted the biggest loss as its shares sank 5% to 5,820 rials each, followed by Persian Gulf International Transportation Company and Sahand Plastic Industries Company.

Fars Construction and Development Company had the best performance as its share value rose 5% to 3,025 rials. Kaveh Paper Industries Company and Niroumoharekeh Machine Tools Company came next.

Parsian Oil and Gas Development Company was the biggest market laggard as its shares dropped 1.43% in value to 2,269 rials each, dragging down TEDPIX by 31.42 points. Bank Pasargad and Bandar Abbas Oil Refining Company followed.

Iran Khodro, Iran’s largest auto manufacturer, provided the biggest boost to the benchmark, going up 2.43% to 3,576 rials per share. Pardis Petrochemical Company and Bank Karafarin came next.

The Price Index shed 21.90 points or 0.08% to stop at 27,813.4. The First Market Index was down 74.90 points or 0.14% to reach 53,222.2.

The Second Market Index advanced by 63.70 points or 0.04% to post 166,481.7.

The Industry Index retreated by 34.70 points or 0.05% to settle at 63,374.1.

The Free Float Index inched down 5.26 points or 0.01% to register 84,812.20. The TSE 30 Index lost 8.50 points or 0.27% to end at 3,105.1, while the TSE 50 Index edged down 3.70 points or 0.12% to close at 3,041.0.

 IFX Sheds 1.81 Points

Iran Fara Bourse’s all-share index, IFX, lost 1.81 points or 0.22% to 814.65.

Over 1.3 billion securities valued at $51.9 million changed hands in 39,000 transactions. As a result, daily trade value dropped by nearly $4 million compared to Tuesday.

Parsian Rail Company, Pasargad Oil Company and Fanava Engineering Group had the highest increase in share value, while Minoo Industrial Company, Ravan Fanavar Company and Tuka Paint Company posted the biggest losses.

Alvand Housing Investment Company recorded the highest number of traded shares in addition to the highest daily trade value, as 37 million of its shares worth $1.2 million were traded.

Esfahan Steel Company and Tehran Oil Refining Company were on investors’ radar.

The First Market played host to the trading of 78 million securities valued at $5.8 million and over 48 million securities valued at $4.1 million changed hands in the Second Market.

Etemad Fund, with the transaction of 1.7 million of its shares worth $661,000, recorded the highest trade volume among listed exchange-traded funds.