Tehran Shares See Red, Again
EghtesadOnline: Tehran stocks continued on the declining for the third session under growing selling pressure that dominated a broad range of shares on Monday.
The main index of Tehran Stock Exchange, TEDPIX, shed 23,647.53 points and fell 1.68%. The benchmark lost the psychological 1.4 million-point support level to close trade at 1,384,111.
The TSE’s equal-weighted index lost more than 2%. The index gives a better reflection of the performance of small caps.
With nervous traders rush for the exits, the value of retail trade plunged to the lowest level in 82 sessions, according to the Persian-language economic website Eqtesad News.
Retail trade reached 45.8 trillion rials ($168 million) on Monday to register 10% decline compared to the day before. The net capital outflow by retail investors was 6.78 trillion rials ($25m) putting total capital outflow to over 30 trillion rials ($110m) in six sessions.
About 5.73 billion shares valued at 39.38 trillion rials ($145.8 million) changed hands at TSE for the day.
Trading at TSE and junior exchange Iran Fara Bourse starts on Saturday and ends Wednesday.
Hormozgan Cement Company was the main winner as its shares went up 4.99% to 17,250 rials per share.
Iran Pump Manufacturing Industries Complex incurred the biggest loss among all TSE-listed companies and went down 6.78% to 17,040 rials per share.
Pars Petrochemical Company contributed the most to the benchmark's fall, followed by Pardis Petrochemical Company, National Iranian Copper Industries Company and Jam Petrochemical Company.
Iran Mercantile Exchange gave the biggest boost to the benchmark index followed by Opal Kani Pars Mining and Processing Company, Dr. Abidi Pharmaceutical Company and Karafarin Bank.
IFB Down 1.4%
Iran Fara Bourse main index, IFX, lost 280.93 points or 1.41% to close Monday trade at 19,676. About 2.3 billion securities worth 390.26 trillion rials ($1.44 billion) were traded at the junior exchange for the day.
Kerman Province Development Investment Company had the highest number of traded shares as 262.87 million of its shares worth 255.82 billion rials ($947,507) were traded.
Zagros Petrochemical Company, Arya Sasol Polymer Company, Esfahan Steel Company and Marun Petrochemical Company had the most negative impact on IFX.
Iran Fara Bourse gave the biggest boost to IFX, followed by Minoo Industrial Group Company, Rail Pardaz Noafarin Company and Alborz Distribution Company.