Economy, Business And Markets

TEDPIX Breaks Below Another Resistance Level

TEDPIX Breaks Below Another Resistance LevelTEDPIX Breaks Below Another Resistance Level

Tehran Stock Exchange’s benchmark index plunged by 740.80 points or 0.99% to close Tuesday trade at 73,959.7, reaching its lowest since February 3. Losing oil and petrochemical companies as well as large-cap auto manufacturers were the main cause behind TEDPIX’s freefall.

More than 920 million shares valued at $57.6 million changed hands for the day.

Kaveh Paper Industries Company posted the biggest of losses among all TSE-listed companies by dropping 4.99% to 5,047 rials per share. It was followed by Fars Chemical Industries Company and Shiraz Petrochemical Company.

Iran Mineral Processing Research Center saw the biggest gain, going up 4.98% to 3,391 rials per share. Iran Argham Company and Iran Tractor Foundry Company came next.

Bandar Abbas Oil Refining Company weighed most on TEDPIX, followed closely by Iran Khodro and SAIPA, Iran’s two largest auto manufacturers.

Bank Tejarat provided the biggest boost to the benchmark, followed by Mobin and Shiraz petrochemical companies.

The Price Index shed 269.80 points or 0.99% to stop at 26,936.

The First Market Index nosedives by 639.50 points or 1.23% to 51,201.1.

The Second Market Index gave up 899.60 points or 0.54% to 165,005.4.

The Industry Index wiped 619.60 points or 0.99% to 61,734.9.

The Free Float Index fell by a whopping 1,089.73 points or 1.31% to 81,798.20.

The TSE 30 Index also lost 40.20 points or 1.33% to 2,979.5 and the TSE 50 Index shed 31.40 points or 1.06% to 2,940.6.

 IFX Down 1%

Iran Fara Bourse’s all-share index extended its six-day losing streak by shedding 7.96 points or 1.01% to end at 781.15.

About 400 million securities valued at $64.6 million were traded in 30,000 transactions.

Tehran and Lavan oil refining companies weighed most on the benchmark.

Omid Taban Hour Energy Management Company registered the highest number of traded shares, as 25.6 million of its shares changed hands. Damavand Electricity Company filed the highest daily trade, as $2.2 million worth of its shares were transacted.

Saman and Kosar insurance companies as well as Chaharmahal Sugar Company had the highest increase in share value. Marun Petrochemical Company, Niroo Sarmayeh Company and Shiraz Oil Refining Company saw the biggest losses.

The First Market witnessed the trading of 61 million securities valued at $3.6 million. Over 93 million securities valued at $36 million changed hands in the Second Market.

Furthermore, 100,870 leasing bonds of MAPNA Group with a three-month maturity were sold out.