Tehran stocks began trading week on Saturday on a strong note but pared gains later as sell-off pressure mounted on a broad range of shares.
The benchmark of Tehran Stock Exchange, TEDPIX, gained 20,000 points in early trade before losing half an hour later. TEDPIX closed the day 4,000 points higher to gain 0.24%, standing at 1,615,531 points.
The sell-off was apparently sparked by the reports that the stock market regulator had decided to prohibit day trading in the volatile market to discipline speculators.
Except for few large-cap shares, most shares closed trade in negative territory as seen in the 0.24% drop in the equal-weighted index.
***TSE Trade
About 7.16 billion shares valued at 81.03 trillion rials ($284.34 million) changed hands at TSE on Saturday.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Iran Manganese Mining Company was the biggest winner as its shares went up 4.99% to 94,620 rials per share.
Melli Industrial Group Company incurred the biggest loss among all TSE-listed companies plunging 5% to 532,770 rials per share.
The National Iranian Copper Industries Company contributed the most to the benchmark's fall, followed by Tehran Oil Refining Company, Telecommunication Company of Iran and Esfahan Oil Refining Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Tamin Petroleum and Petrochemical Investment Company, Chadormalu Mining and Industrial Company and Mellat Bank.
The Industry Index was up 5,033.05 points, or 0.35%, to register 1,438,134.91 while the Free Float Index was down 7,075.84 points to hit 2,145,599.20.
TSE 30 went down 312.10 points to settle at 85,288.58 and the TSE 50 ended 248.73 points higher to finish at 64,886.34.
***IFX Up 0.93%
Iran Fara Bourse main index, IFX, gained 166.86 points, or 0.93%, to close Saturday trade at 18,202.07.
About 1.47 billion securities valued at 31.5 trillion rials ($110.52m) were traded in the junior exchange.
Esfahan Steel Company, Gohar Zamin Iron Ore Company, Arya Sasol Polymer Company and Pasargad Insurance Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Saba Tamin Investment Company, Shahid Tondgooyan Petrochemical Company and Day Bank.
