Economy, Business And Markets

TEDPIX Extends Losing Streak

TEDPIX Extends Losing StreakTEDPIX Extends Losing Streak

Tehran Stock Exchange’s all-share index shed 82.60 points or 0.11% on Wednesday to close trade at 73,877.1.

The benchmark’s weak performance owed to significant losses incurred by steel and petrochemical companies.

Close to 745 million shares valued at $46.7 changed hands for the day.

Kaveh Paper Industries Company was the biggest loser for the second day in a row, as it dropped 4.99% to 4,795 rials per share. Nirou Trans Company and Farabi Petrochemical Company followed.

Iran Tractor Foundry Company posted the biggest gains among all TSE-listed companies, going up 5% to 3,257 rials per share. Marvdasht Sugar Company and Iran Argham Company came next.

Mobarakeh Steel Company weighed most on TEDPIX, tailed closely by MAPNA Group and Fajr Petrochemical Company.

Iran Khodro gave the biggest boost to the benchmark, followed by Bandar Abbas Oil Refining Company and Bank Mellat. The Price Index lost 30.10 points or 0.11% to stop at 26,904.2. The First Market Index was up 22.10 points or 0.04% to reach 51,223.2.

The Second Market Index shed 655.20 points or 0.40% to record 164,349.8.

The Industry Index gave up 121.50 points or 0.20% to settle at 61,613.4. The Free Float Index gained 119.92 points or 0.15% to post 81,918.10. The TSE 30 Index won 2.10 points or 0.07% to hit 2,981.6, while the TSE 50 Index was down 5.30 points or 0.18% to finish at 2,953.3.

 IFX Down 0.52%

Iran Fara Bourse’s main index ended the week at 777.06 after losing 4.90 points or 0.52% on Wednesday.

Over 380 million securities valued at $21.5 million were traded.

Hormozgan Steel Company and Middle East Mines and Mineral Industries Company had weighed most on IFX.

More than 38 million securities valued at $2.2 million were traded in the First Market. The Second Market saw the trading of 64.1 million securities worth $5 million.

Horrmozgan Steel Company had the highest number of traded shares and daily trade value, as 27 million of its shares worth $1.4 million changed hands.

Kosar Insurance, Tabas Coal Company and Saman Insurance were IFB’s biggest risers. Hormozgan Steel Company, Chaharmahal and Shirvan sugar companies incurred the biggest losses.

Etemad Fund, with the transaction of 3.4 million shares, recorded the highest trade volume among listed exchange-traded funds.