Tehran Stock Market Losses Multiply
EghtesadOnline: Tehran stock market losses multiplied on Monday as sell-side pressure outweighed demand and many categories saw price declines.
The main index of Tehran Stock Exchange, TEDPIX, lost 32,808.06 points or 2.15% for the day to end trading at 1,490,173.09.
Losers were mostly shares of petrochemical, mineral, steel and refinery companies. Demand for bank and auto stocks was high with many ticker symbols under the two categories closing the session in positive territory.
Small-cap share were hit less by the sell-off as indicated by the 0.5% drop in the equal-weighted index. The index offers a better picture on performance of penny stocks. Value of retail trade declined by 34.3% to reach 86 trillion rials ($307 million).
About 9.09 billion shares valued at 75.81 trillion rials ($268.85m) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Calcimine Company, a metal company, was the biggest winner as its shares went up 5.2% to 54,990 rials per share.
Neyshabour Sugar Company incurred the biggest loss among all TSE-listed companies and went down 5% to 104,710 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by National Iranian Copper Industries Company, Tamin Petroleum and Petrochemical Investment Company and Golgohar Mining and Industrial Company.
Carmaker Iran Khodro Company gave the biggest boost to the benchmark index, followed by Parsian Bank, Tejarat Bank and SAIPA Automaker Company.
The Industry Index lost 31,928.26 points or 2.36% to register 1,320,677.45. The Free Float Index was down 35,857.56 points to hit 1,989,764.49.
TSE 30 went down 1,920.57 points to settle at 76,881.7 and the TSE 50 ended 1,545.32 points lower to finish at 59,191.09.
IFX Down 1 %
Iran Fara Bourse main index IFX lost 186.18 points, or 1.04%, to close Monday trade at 17,647.46. About two billion securities valued at 39.91 trillion rials ($141.52m) were traded at the junior exchange.
Arya Sasol Polymer Company, Marun Petrochemical Company, Shahid Tondgooyan Petrochemical Company and Zagros Petrochemical Company had the most negative impact on IFX.
Sepehr Saderat Financial Group Investment Company gave the biggest boost to IFX, followed by Pasargad Insurance Company, Damavand Power Generation Company and Day Bank.