EghtesadOnline: Tehran stocks opened trading week on Saturday under the relentless sell side pressure in a majority of shares, amid mounting capital outflow from the struggling market.
Extending the long streak of losses, the main gauge of Tehran Stock Exchange, TEDPIX, shed 37,665 points and lost 3.2%, plunging deeper to 1,135,345 points. TSE has lost 115,000 points in four sessions of consecutive losses.
The equal-weighted index was down 1.7% and the TSE-30 Index dropped 4.12% to show that the large caps were hit harder by the selloff.
The former index gives the same weight to all shares, irrespective of their market cap while the latter tracks the performance of only top 30 TSE-listed companies in terms of market capitalization.
Saturday’s session featured the biggest liquidity outflow by retail investors in the current fiscal month (started Jan. 20) with the net capital outflow of 19.37 trillion rials ($80 million), according to Eghtesad News website.
Equity prices in 81% of tickers dropped, comprising 389 tickers listed at both TSE and the junior equity exchange Iran Fara Bourse.
About 6.77 billion shares valued at 69.83 trillion rials ($290 million) changed hands at TSE on Saturday.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Orumieh Cement Company was the biggest winner, as its shares went up 4.99% to 35,330
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Social Security Investment Company.
Sepid Farab Kavir Steel Manufacturing Company gave the biggest boost to the benchmark index followed by Shazand Petrochemical Company, Pars National Agro-Industry and Animal Husbandry Company and Zar Spring Company.
IFB Down 1.7%
Iran Fara Bourse’s main index, IFX, lost 299.47 points, or 1.72%, to close Saturday trade at 17,134.63.
About 1.54 billion securities valued at 46.5 trillion rials ($193.77 million) were traded at the junior exchange for the day.
Arya Sasol Polymer Company, Hormozgan Steel Company, Gohar Zamin Iron Ore Company and Saba Tamin Investment Company had the most negative impact on IFX.
Ghasem Iran Company gave the biggest boost to IFX followed by Yazd Rubber Industries Complex, Saveh Cement Company and Tuka Refractories Production and Services Company.