The wobbly stock market keeps putting investors on the edge, with Tehran Stock Exchange’s benchmark dipping 1,203 points or 1.9% in the week that ended September 16 to close at 62,624.
According to TSE data, the First Market Index plunged 1,281 points or 2.87% to settle at 43,357. The Second Market Index also ticked down 176 points or 0.13% to end at 137,431.
More than 1.8 billion shares and rights offerings changed hands in 152,000 transactions valued at $95.1 million to post 295% and 26% decline in trade volume and value compared to the prior trading week respectively.
Close to 205,000 participation bonds worth $5.9 million were purchased by investors to register 97% and 101% growth respectively.
Sugar, leather and telecommunications industries with 2.88%, 1.38% and 1.38% were among the few weekly gainers at TSE.
IFX Nosedives
Mirroring TSE’s dented sentiment, Iran Fara Bourse’s overall index dipped 42.2 points or 5.8% during the same week to stand at 681.
IFB’s market cap also shed 3.7%.
Despite IFX’s freefall, trade volume and value posted dramatic growth. More than 6.4 billion securities traded in 109,000 transactions valued at $446.2 million to register 250% and 113% surge amid a lucrative Initial Public Offering on Wednesday.
IFB’s third IPO, this year, was launched for Pardis Housing Investment Company, which was accompanied by a year-to-date record high in daily trade volume.
The first and secondary markets recorded 598% and 143% surge in trades, thanks to the newly debuted share. However, the Base Market and Modern Financial Instruments Market’s trade fell 77% and 52% respectively.
