Tehran stocks pared some gains made on Sunday as sell-side pressure mounted on large cap shares, pulling down the benchmark of Tehran Stock Exchange into the red.
TEDPIX, the main gauge of the TSE, retreated from about 8,000 points rise in the early hours of session and went into negative zone.
The benchmark, which is highly sensitive to performance of large caps, closed session 5,870 points, or 0.41%, lower to finish trade at 1, 439,054 points.
The equal-weighted index, however, took a reverse and remained in positive territory as small caps gained renewed traction for stock market investors.
Top gainers on Sunday were shares of petrochemical and metal companies. Demand for the latter rose after a board member of the Iranian Steel Producers Associations (ISPA) talked about exporting 60% of steel products and the remaining to the domestic market through the Iran Mercantile Exchange.
This could increase profit-making of steel companies if approved by the regulator, Boursepress quoted Reza Shahrestani as saying.
Trade value in both the TSE and the junior exchange Iran Fara Bourse increased slightly by 2.3% to reach 175 trillion rials ($700 million) on Sunday. Retail investors accounted for 153 trillion rials of trade, according to eghtesadnews.
TSE Trade
About 9.74 billion shares valued at 113.52 trillion rials ($436.62m) changed hands at TSE for the day. Alumrad Company was the biggest winner as its shares went up 10.1% to 143,530 rials per share.
Esfahan Oil Refining Company contributed the most to the benchmark's fall, followed by Iran Khodro Company, Tehran Oil Refining Company and Mellat Bank.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index followed by Khouzestan Steel Company, National Iranian Copper Industries Company and Chadormalu Mining And Industrial Company.
IFX Up 1.29%
Iran Fara Bourse main index, IFX, gained 251.4 points or 1.29% to close Sunday trade at 19,688.9. About 2.99 billion securities valued at 61.54 trillion rials ($236.7 m) were traded at the junior exchange for the day.
Omid Taban Hour Energy Management Company, Sepehr Saderat Financial Group Investment Company, Iran Office Machines Industries Company and Damavand Power Generation Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by the Middle East Mines and Mineral Industries Development Holding Company, Zagros Petrochemical Company and Arya Sasol Polymer Company.
