Stocks Stagnate After Saturday’s Big Rally

Tehran Stock Exchange’s main index inched down 1.50 points or less than 0.01% to end Sunday trade at 80,339.2.

The index stalling came a day after its massive rally on Saturday when TEDPEX surged over 1,000 points or 1.31% to 80,340.70 points, grabbing a fresh 6-1/2 month high

More than 782 million shares valued at $50.8 million changed hands on Sunday.

Sepahan Oil Company incurred the biggest loss among all TSE-listed companies, as it went down 1.61% to 7,400 rials per share.

Urmia Cement Company was the biggest riser, going up 2.80% to 3,415 rials per share.

Mobarakeh Steel Company weighed the most on TEDPIX, followed by Golgohar Mining and Industrial Company and Mines and Metals Development Investment Company. Incidentally, Golgohar was a market leader on Saturday.

Parsian Oil and Gas Development Company gave the biggest boost to the benchmark, followed by Mobin Petrochemical Company and Fajr Petrochemical Company.

The Price Index was down 1.50 points or less than 0.01% to stand at 28,367.9.

The First Market Index lost 69.70 points or 0.12% to reach 56,560.1.

The Second Market Index scored 404.40 points or 0.23% to register 173,659.4.

The Industry Index gained 28.90 points or 0.04% to post 67,379.6.

The Free Float Index shed 215.06 points or 0.24% to hit 89,393.30.

The TSE 30 Index dropped by 8.80 points or 0.27% to close at 3,271.6 while the TSE 50 Index gathered 0.90 points or 0.03% to finish at 3,169.3.

 IFX Down 0.24%

Iran Fara Bourse’s main index lost 1.92 points or 0.24% to end Sunday trade at 837.31.

Just like TEDPIX, the IFX also staged a surprising performance on Saturday jumping up 1.28% to an eight-month high of 839.23 points.

Over 227 million securities valued at $69.3 million were traded at the over-the-counter exchange on Sunday.

Esfahan Steel Company saw the highest number of traded shares, as 15.3 million of its shares changed hands.

Atieh Dadeh Pardaz Company accounted for the highest trade value, as $4.5 million of its shares were traded.

Minoo Shargh Food Company, Mavad Vizhe Lia Company and Baghmisheh Development and Urbanization Company registered the highest value increase.

ASP Construction Company, Arfa Steel Company and Shirvan Sugar Company had the highest decline.

Marun Petrochemical Company, Esfahan Steel Company and Middle East Mines and Mineral Industries Development Holding Company had the most negative impact on the IFB benchmark.