Economy, Business And Markets

TSE Trading Focused on 3 Groups

TSE Trading Focused on 3 GroupsTSE Trading Focused on 3 Groups

Automakers, banks and holdings were the three top trading groups last week on Tehran Stock Exchange, constituting 56% of all transactions.

The traditionally volatile group of automakers and parts manufacturers registered the most trading and accounted for 31% of the total volume.

Banks and credit institutions were the second most popular group with traders but only made up 16% of all trade.

About 9% of last week’s trading were in multi-industry companies, which made them the third most traded group on the exchange.

Tehran Stock Exchange’s benchmark ended last week down 0.3% at 76,455.40 points, just off a seven-week low. This was the fifth straight week of losses for the TEDPIX.

Trade volume, which had hit its lowest in nine months last week, dropped a further 23.8% to 4 trillion rials ($112 million).

All major industries faced losses last week while liquidity dried up even more than before. Poor economic outlook and speculation about the return of double digit inflation, as well as crisis in banking and manufacturing sectors are sapping share prices. Tensions between the Islamic Revolutionary Guards Corps and the United States Navy in the Persian Gulf around the Strait of Hormuz is also believed to have hurt market sentiment.