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Business And Markets

Tehran Stocks Struggle Under Selloff Pressure

Tehran stocks opened Sunday again under heavy sell-side pressure in almost all categories. 

The main index of Tehran Stock Exchange, TEDPIX, lost 11,180.85 points or 0.80% to end at 1,377,917.45.

Retail trade dropped 5% on the session before to reach 24.05 trillion rials ($77 million). 

About 5.29 billion shares valued at 43.34 trillion rials ($149.46m) changed hands at TSE for the day.

Trading at TSE and the junior equities exchange Iran Fara Bourse starts on Saturday and ends Wednesday.

Dana Insurance Company was the main winner as its shares went up 6.72% to 1,509 rials per share.

Iranian Leasing Company incurred the biggest loss among all TSE-listed companies losing 6.42% to 2,888 rials per share.

Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by Esfahan Oil Refining Company, National Iranian Copper Industries Company and Social Security Investment Company.

Pars National Agro-Industry and Animal Husbandry Company gave the biggest boost to the benchmark index, followed by Dana Insurance Company, Sepanta Communication Development Company and Vehicle Axle Manufacturing Company.

 

IFX Down 0.55%

Iran Fara Bourse main index, IFX, lost 102.13 points or 0.55% to close Sunday at 18,630.

About 3.24 billion shares and securities worth 154.22 trillion rials ($531.8m) were traded at the junior equities exchange for the day.

Day Bank had the highest number of traded shares as 261.12 million of its shares worth 172.6 billion rials ($595,203) were sold.

Gohar Zamin Iron Ore Company, Shahid Tondgooyan Petrochemical Company, Lavan Oil Refining Company and Saba Tamin Investment Company had the most negative impact on IFX.

Tabas Parvardeh Coal Company gave the biggest boost to IFX, followed by Bahman Diesel Company, Gilan Electric Power Development Company and Artawheel Tire Industrial Complex.