After slight gains last week, the Tehran stock market opened trading week Saturday under sell-side pressure to close in negative territory for two sessions in a row.
The main index of Tehran Stock Exchange, TEDPIX, shed 6,973 points or 0.61%, closing the session at 1,144,873. The equal-weighted index also slipped 0.6% as selloff swept through both large and small caps.
Selloff was partially fuelled by decline in foreign exchange rates on Saturday that normally impacts sentiment of investors of commodity stocks. The US dollar lost about 1.2% in Tehran’s free market to buy 236,300 rials.
About 5.41 billion shares worth 33.56 trillion rials ($139.86 million) changed hands at TSE on Saturday.
The biggest winner of the day was Darab Cement Company as went up 4.95% to 20,340 rials per share. Electric Khodro Shargh Company incurred the biggest loss and went down 23.14% to 11,030 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Social Security Investment Company, Mellat Bank and Mapna Group.
Tehran Oil Refining Company gave the biggest boost to the benchmark index followed by Golgohar Mining and Industrial Company, Saman Kish Electronic Payment Company and Beh Pardakht Mellat.
IFX Down 0.18%
Iran Fara Bourse main index, IFX lost 31.28 points or 0.18% to close Saturday trade at 17,452.76. About 1.37 billion securities valued at 126.61 trillion rials ($527.5m) were traded at the junior exchange for the day.
Kerman Province Development Investment Company had the highest number of traded shares as 180.86 million of its shares worth 197.08 billion rials ($821,166) were traded.
Gohar Zamin Iron Ore Company, Arya Sasol Polymer Company, Iran Cultural Heritage and Tourism Investment Group Company and Omid Taban Hour Energy Management Company had the most negative impact on IFX.
Pasargad Insurance Company gave the biggest boost to the IFX, followed by Minoo Industrial Group Company, Damavand Power Generation Company and Esfahan Steel Company.
