TEDPIX Plunges Over 3,600 Points
EghtesadOnline: Tehran Stock Exchange's main gauge fell sharply on Monday as a selloff in auto and bank shares spread across the board. The decline caused a broad rout in refinery and petrochemical stocks.
The market's fall took investors and analysts off guard as the latest earnings report of nearly all listed companies except for carmakers have been relatively positive, according to analytical website Donyaye Bourse.
The TSE's main index TEDPIX lost 3,652.87 points or 2.21% on Monday to end trading at 161,922.2.
About 2 .17 billion shares valued at 5.67 trillion rials ($48.83 million) changed hands at TSE for the day, according to Financial Tribune.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Iran Mineral Salts Company was the biggest winner as its shares went up 5% to 2,565 rials.
Iran Khodro (a major car company) incurred the biggest loss among all TSE-listed companies and went down 5% to 2,565 rials per share.
Pars Petrochemical Company contributed the most to the benchmark's fall, followed by Bandar Abbas Oil Refining Company and Persian Gulf Petrochemical Industries Company.
Omid Investment Management Group gave the biggest boost to the benchmark index, followed by Telecommunication Company of Iran.
Caption: About 2 .17 billion shares valued at 5.67 trillion rials ($48.83 million) changed hands at TSE on Monday.