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Market Jitters Continue on Seesaw Trading Day
Economy, Business And Markets

Market Jitters Continue on Seesaw Trading Day

As overreactions to some recent political and economic developments continue to affect the decisions of investors at the Tehran Stock Exchange (TSE), the market’s main gauge, the TEDPIX, edged lower at Monday’s close, after the stocks waned during a seesaw trading day.
After four days of broad retreat at the TSE, the market failed to start wiping out losses of last few trading days, although the second market index, as well as the industry index managed to settle in green.
The consecutive drop in oil prices has triggered fluctuations across various markets, including the foreign exchange market, pushing the TEDPIX down into red as traders and investors expect a bleak future for the economy.
Another factor was the overreaction of the unsettled investors to the extension of the nuclear talks between Iran and the P5+1 group of major world powers. However, most market analysts regard the talks’ extension as a positive sign for the stock market.
According to the TSE’s website, the TEDPIX shed 68.7 points or 0.1 percent to stand at 72,120.8. The first market index lost 229.2 points or 0.43 percent to end the day at 53,069. The second market index soared 1,033.5 points or 0.73 percent to settle at 142,238.5. The free float index slid 326.5 points or 0.39 percent to 82,652. The industry index was up 26.8 points or 0.04 percent to wrap up Monday’s trade at 60,486.4, and the blue chip index dipped 7.3 points or 0.22 percent to finish at 3,238.4.
Unlike Sunday, the trade volume and value recorded significant increases on Monday, as more than 1 trillion shares changed hands, valued at almost 3.24 trillion rials.
Pars Khodro and Saipa recorded the highest volume of trades among the listed firms; however they left a negative impact on the market’s gauge at the end of the day.
Persian Gulf Petrochemical Industry Company was the leading positive contributor to the stock market’s benchmark on Monday, and Mobarakeh Steel Company took the second place in that regard.
As the equity market is suffering from severe fluctuations, market analysts recommend investors to be cautious and do not count heavily on short-term earnings.
One of the key strategies required to shoring up portfolios in an unbalanced stock market is to abide diversification. Another one is snapping up the chances available, as the shares have already hit rock-bottom value within the past few trading days.
The government officials have put emphasis on the need for change in the behavior of shaky investors, as they believe the volatile situation will soon change.
After the selloff lines from past week fade, investors are now trying to garner devaluated shares, boosting the rate of their earnings, while the unsettled sellers may lose dramatically because of the irregular behavior that has again dominated the market.

 

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