Tehran Stock Exchange (TSE) finished another downward trading week, although it experienced two positive consecutive trading days.
Given the market ambiguities, which triggered unsettled behavior on the part of investors, the TEDPIX pulled back further in the week ending September26, extending its recent losses.
According to the TSE’s website, TEDPIX lost 1,172 points or 1.56 percent to broadly wipe out its gains, and settled at 74,076.1. The first market index slipped 819 points or 1.47 percent to end at 54,772.2. The second market index plunged 2,595 points or 1.77 percent to finish at 144,366.7. The free float index pulled back 1,248 points or 1.44 percent to 85,381.4. The industry index was down 1,048 points or 1.67 percent to 61,766.4. The blue chip index shed 77 points or 2.23 percent to stand at 3,371.8, and the financial group index dropped 1,398 points or 0.94 percent to 147,130.4.
The stock market’s benchmark was witnessing a broad retreat, although the trade volume and value were briefly up compared to the last week.
The TSE’s data indicate that the number of traders due to the market ambiguities sank by a 23.9 percent, demonstrating the cloudy approach of TSE’s shaky investors.
The stock market’s volatility spurred concern among traders, though most of the fluctuations are attributed to the investors’ behavior.
Considering the TSE’s sentiment from the beginning of the current Iranian year, which started March 21, 2014, the TEDPIX has fallen 6.3 percent, with all indices in red.
Market analysts highlighted the poor data and overreaction of the investors as the most crucial indicators to the market’s downturn, although they argue that the extension of nuclear talks between Iran and the P5+1 is a positive sign.
Analysts estimate that the overreactions will be mitigated within the upcoming week’s trade. However, they urge investors to analyze listed companies before moving to buy their shares.
