EghtesadOnline: Tehran equities were on uneven footing on Tuesday after Tehran Stock Exchange rebound from last week’s global commodity rout slowed. TSE's TEDPIX was 0.36 % lower after swinging between negative and positive territory.
The mineral and steel segment was the best performer in early trade, while petrochemical stocks were among the underperformers.
At the over-the-counter-market Iran Fara Bourse, the main gauge IFX gained 5.32 points or 0.29% to close Wednesday trade at 1,829.5
The 90-day truce in the trade war between China and the US and the recovery in oil prices had lifted the TEDPIX by around 4% during the past two trading days, Financial Tribune reported.
Oil prices rose more than 2% on Tuesday, extending gains ahead of expected output cuts by OPEC and a mandated reduction in Canadian supply.
Tehran Stock Exchange’s main index lost 602.37 points or 0.36% on Tuesday to end trading at 165,701.7
About 1.32 billion shares valued at over 6 trillion rials ($54.86 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Faravari Mavad Madani Iran Co. was the biggest winner as its shares went up 5% to 30,930 rials per share. FMMIC engages in mining and produces and distributes zinc ingot and plates. The company is based in northwestern Zanjan Province.
Niroo Moharekeh Industrial Company (NMI Co.) – an engine and gearbox manufacturing company – and Motorsazan Co. - the largest manufacturer of diesel engines, according to its website – incurred the biggest loss among all TSE-listed companies and went down 4.53% to 2,297 rials and 4,451 rials per share, respectively.
MAPNA Group - a conglomerate involved in development and execution of thermal and renewable power, oil & gas and railway transportation –contributed the most to the benchmark's fall, followed by Bank Mellat and Pars Petrochemical Company.
Omid Investment Management Group Co ( OIMGC) –an investment management company focused on steel, cement, oil and gas ,financial services, real estate and petrochemical industries – gave the biggest boost to the benchmark index, followed by Esfahan Oil Refining Company (Eorc) and Golgohar Mining and industrial Company.
The Price Index lost 175.21 points to close at 48,176.6.
The First Market Index was down 296.74 points to post 122, 321.3. Second Market Index decreased by 1,908.02 points to reach 328,896.0.
The Industry Index went down by 498.72 points to register 150,733.3. Free Float Index was down 507.55 points to hit 177,579.33.
The TSE 30 went down 32.08 points to settle at 8,253.1 and the TSE 50 ended 28.80 points lower to finish at 7,239.3.
IFX Up 0.29%
Iran Fara Bourse’s main index IFX gained 5.32 points or 0.29% to close Tuesday trade at 1,829.5
About 804 million securities valued at $36.66 million were traded at the over-the-counter exchange for the day.
Esfahan Steel Company (ESCO) – the largest structural steel & rail producer in Iran, according to its website – had the highest number of traded shares as 218 million of its shares worth $3.2 million changed hands.
Marjankar Company (producer of cavity wall bricks) and Asia Zarin Madan Co. (the largest private producer of lead and zinc concentrate) registered the highest value increase.
Sina Port& Marine Company, Saina Hygienic Industries Co., Avicenna Laboratories Inc. and Sabzevar Lar Cement Company (PLC) suffered the biggest decline.
Esfahan Steel Company, Hormozgan Steel Company, and Shiraz Oil Refinery Company had the most positive impact on IFX.