Tehran Stocks Shed 3,700 Points
EghtesadOnline: The main gauge of Tehran Stock Exchange, TEDPIX, dropped 0.93% on Tuesday while the equal-weighted index took a reverse course and climbed more than 1% for the day.
Indicators report a downturn for large-cap companies as shown by the TEDPIX, and an upbeat performance for stocks of smaller companies. Equal-weighted index give the same weight to all stocks regardless of their market cap.
Gloomy quarterly reports pushed down the stocks of large-cap listed companies which include giant petrochemical and metal firms, according to the Donyaye Bourse website. The companies usually have the most impact on the TSE benchmark, according to Financial Tribune.
TEDPIX lost 3,798.12 points on Tuesday to end trading at 406,008.9.
About 6.7 billion shares valued at 42.37 trillion rials ($325.9 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Iran Mineral Processing Company was the biggest winner as its shares went up 28.53% to 14,480 rials per share.
Sepahan Industrial Group Company incurred the biggest loss among all TSE-listed companies and went down 5% to 19,193 rials per share.
Esfahan Oil Refining Company contributed the most to the benchmark's fall, followed by Persian Gulf Petrochemical Industries Company, Bandar Abbas Oil Refining Company and Telecommunication Company of Iran.
Islamic Republic of Iran Shipping Lines Company gave the biggest boost to the benchmark index, followed by Kharg Petrochemical Company, Shazand Petrochemical Company and Shiraz Petrochemical Company.
IFX Down 0.8%
Iran Fara Bourse main index IFX lost 42.58 points, or 0.8%, to close Tuesday trade at 5,258.43.
About 2.26 billion securities valued at 15.28 trillion rials ($117.6 million) were traded at the over-the-counter exchange for the day.
Damavand Fund Providing Company had the highest number of traded shares and trade value as 600 million of its shares worth 600 billion rials ($4.61 million) were traded.
Marun Petrochemical Company, Gohar Zamin Iron Ore Company, Esfahan Steel Company and Hormozgan Steel Company had the most negative impact on IFX.
Iran Office Machines industries Company gave the biggest boost to IFX, followed by Kowsar Insurance Company, Pasargad Insurance Company and Iran Fara Bourse.