Bears Dominate Tehran Exchanges

Tehran Stock Exchange’s main index shed 368 points or 0.5% during the week that ended January 11 to end at 78,622.

IFX, the over-the-counter Iran Fara Bourse’s benchmark, lost 14.7 points or 1.7% during the week to 830.5.

Trading at the two exchanges begins on Saturday and ends on Wednesday. The markets were closed on Tuesday.

Over 3.48 billion shares valued at $146.6 million were traded on TSE during the past week.

The number of traded shares grew by 3% while weekly trade value shrank by 33% compared to the previous week.

The TSE’s First Market Index shed 84 points or 0.1% to end at 55,946.

The Second Market Index lost 1,789 points or 1.06% to close at 166,540.

At IFB, more than 986 million securities valued at $164.6 million were traded in 191,000 transactions.

The number of traded shares and weekly trade value dropped by 2% and 23% compared to the week before.

IFB’s market cap plunged by $706.8 million or 2.9% to reach $23.94 billion.

IFB’s First Market witnessed the trading of 77 million securities valued at $3.6 million, indicating a 78% and 77% drop in the number of traded securities and trade value respectively.

About 579 million securities valued at $37.5 million were traded in the Second Market, with the number of traded securities surging 189% and trade value rising 50% week-over-week.

The ‘base metals’ group of IFB-listed industries had the highest weekly rise in share value (33%). ‘Food products and drinks except sugar’ (16%) and ‘transportation, storage and communications’ (9%) came next.