Tehran Share Market in Freefall
EghtesadOnline: Tehran stocks plunged Tuesday amid relentless sell-off that has continued for eight days in a row. The main index of Tehran Stock Exchange, TEDPIX, lost 2.6% for the day.
Shedding 34,628 points, the TSE benchmark closed the session at 1,301,959. The equal weighted index was down 1.09%. It reflects the performance of all listed companies irrespective of their market cap.
About 5.88 billion shares valued at 46.14 trillion rials ($164.8 million) changed hands at TSE for the day.
Khorasan Sabet Sugar Company was the biggest winner as its shares went up 5% to 76,460 rials per share.
Iran Zinc Mines Development Company incurred the biggest loss among all TSE-listed companies and went down 5% to 26,790 rials per share.
Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by National Iranian Copper Industries Company, Tamin Petroleum and Petrochemical Investment Company and Esfahan Oil Refining Company.
Pakshoo Industrial Group Company gave the biggest boost to the benchmark index followed by Kish South Kaveh Steel Company, Informatics Services Corporation and Zar Macaron Industrial Group Company.
IFX Down 1.76%
Iran Fara Bourse main index, IFX, lost 290.69 points, or 1.76%, to close Tuesday trade at 16,179.95.
About 1.2 billion securities valued at 23.32 trillion rials ($83.3m) were traded at the junior exchange for the day.
Gohar Zamin Iron Ore Company, Arya Sasol Polymer Company, Day Bank and Marun Petrochemical Company had the most negative impact on IFX.
Baghmisheh Construction Company gave the biggest boost to IFX, followed by Gilan Electric Power Development Company, General Mechanic Company and Peyvand Gostar Pars Energy and Electric Company.