Economy, Business And Markets

TEDPIX Stays Put After Dramatic Plunge

TEDPIX Stays Put After Dramatic PlungeTEDPIX Stays Put After Dramatic Plunge

Tehran Stock Exchange’s all-share index inched down 32.30 points or 0.04% to end Sunday trade at 74,817.8. Losses by oil refining companies, auto manufacturers and petrochemicals had weighed most on TEDPIX.

This comes a day after the benchmark nosedived 1,026 points or 1.35% to record its worst drop in four months.

More than 870 million shares valued at $68.6 million changed hands for the day. The number of traded shares dropped by over 110 million, while daily trade value grew by $10 million compared to Saturday.

Qazvin Sugar Company posted the biggest loss as its shares went down 4.98% to 3,531 rials each, followed by Butane Industrial Group and Shiraz Petrochemical Company.

Sepanta Company was the biggest riser, as its shares’ value jumped 5% to 18,819 rials each. Fars Construction and Development Company and Aburaihan Pharmaceutical Company came next.

Esfahan Oil Refining Company weighed most on TEDPIX, followed by IKCO–Iran’s largest automaker–and Shiraz Petrochemical Company.

Persian Gulf Petrochemical Industries Company gave the biggest boost to TEDPIX, followed by Jam Petrochemical Company and Bank Mellat.

The Price Index shed 11.80 points or 0.04% to stop at 27,252.3. The First Market Index lost 121.50 points or 0.23% to settle at 51,880.2.

The Second Market Index gained 517.30 points or 0.31% to register 166,414.3. The Industry Index gave up 17.60 points or 0.03% to reach 62,427.4.

The Free Float Index was down 221.48 points or 0.27% to post 82,947.20. The TSE 30 Index lost 1.20 points or 0.04% to close at 3,020.2 while the TSE 50 Index added 0.80 points or 0.03% to finish at 2,978.3.

 IFX Down 0.88%

Iran Fara Bourse’s primary index also extended its losing streak and lost 6.98 points or 0.88% to 789.79.

Close to 540 million securities valued at $37.7 million were traded with daily trade value shrinking by about $3 million compared to Saturday.

Omid Taban Hour Energy Management Company recorded the highest number of traded shares and daily trade value, as 111 million of its shares worth $5.9 million changed hands.

Tehran Oil Refining Company, Esfahan Steel Company and Marun Petrochemical Company weighed most on the IFX.

Tadbirgaran Fars and Khuzestan Company, Saman Insurance and Marjankar Company had the highest rise in share value. Shomal Gharb Housing Investment Company, Chaharmahal Sugar Company and Niroo Sarmayeh Company posted the biggest losses.

Over 23 million securities valued at $12 million changed hands in the First Market. The Second Market witnessed the trading of 105 million securities worth $9.6 million.

Etemad Fund, with the transaction of 1.8 million shares, recorded the highest trade volume among listed exchange-traded funds.