Economy, Business And Markets

TEDPIX Gains 0.68% to Recoup Part of Recent Losses

TEDPIX Gains 0.68% to Recoup Part of Recent Losses
TEDPIX Gains 0.68% to Recoup Part of Recent Losses

Tehran Stock Exchange’s main index gained 646.50 points or 0.68% to end Monday trade at 96,208.

The gains came after the benchmark lost 1,649.82 points or 1.70% on Sunday following new market-changing regulations and protests over price rises in Tehran and other cities. This was TEDPIX’s largest fall since March 2015.

The index had lost 1,147 points over the three trading days to Sunday, as protests spread after posting spectacular gains in the preceding two weeks.

Market expert Hamid Mirmoeini described the Sunday drop as “overreaction” and noted that many will see the current lower prices as an opportunity for buying. He told Financial Tribune that other rival markets are still no match for stocks’ returns, forecasting that trade will pick up again in the capital market, as companies return with the nine-month performance reports.

About 1.16 billion shares valued at $57 million changed hands at TSE for the day.

Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.

Iran Refractories Company was the biggest riser, going up 4.91% to 3,693 rials per share.

Pars Darou Company incurred the biggest loss among all TSE-listed companies, as it went down 17.77% to 10,108 rials per share.

Iran National Copper Industry Company gave the biggest boost to the benchmark index, followed by Tamin Petroleum and Petrochemical Investment Company and Mobarakeh Steel Company.

Pars Darou Company weighed the most on TEDPIX, followed by Eghtesad Novin Bank and Sobhan Investment.

The Price Index added 207.21 points to close at 30,835.2.

The First Market Index was up 460.51 points to post 68.224.5.

The Second Market Index gained 1,370 points to reach 205,475.

The Industry Index gathered 610.03 points to post 84,874.3.

The Free Float Index was up 755.52 points to hit 103,268.50.

The TSE 30 rose by 37.13 points to settle at 4,203.6 and the TSE 50 added 34.35 points to finish at 3,999.8.

> IFX Gains 24.99 Points

Iran Fara Bourse’s main index IFX gained 24.99 points or 2.42% to close Monday trade at 1,058.32.

About 432.04 million securities valued at $37.63 million were traded at the over-the-counter exchange for the day.

Esfahan Steel Company witnessed the highest number of traded shares, as 23.51 million of its shares were traded.

Zagros Petrochemical Company hit the highest trade value, with the trading of shares worth $645,386.

Tadbirgaran-e Fars and Khuzestan, Day Insurance and East Azarbaijan Pegah Company registered the highest value increase.

Tolid Darou Pharmaceutical Company, Sobhan Oncology Company and Marjankar Company suffered the biggest decline.

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