Share Market Ticks Higher
EghtesadOnline: Following a sharp rally a day earlier, Tehran stocks lost momentum again on Tuesday as investors turned their focus away from large-caps to smaller listed companies.
The market-cap weighted benchmark of Tehran Stock Exchange, TEDPIX, closed trading session 0.65% higher and clawed back above the milestone 1,000,000 points.
TEDPIX gained 6,429 points for the day to close trading session at 1,001,610.
Investors renewed interest in small-cap stocks pushed the equal-weighted index higher by 2.11%. The index gives the same weight to all stocks irrespective of their market cap.
This is while majority of large-cap stocks, mainly in refinery, petrochemical, metal, and bank categories, were hit by a massive sell-off, pulling down the TSE-30 index to negative territory.
The index, which track the performance of 30 large-cap companies, closed trading session 1.37% lower.
About 9.38 billion shares valued at 100.27 trillion rials ($579.61 million) changed hands at TSE on Tuesday.
Pars Minoo Company (food industry) was the biggest winner as its shares went up 59.11% to 19,321 rials per share.
Pars Switch Company incurred the biggest loss among all TSE-listed companies and went down 4.74% to 79,423 rials per share.
Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by Golgohar Mining and Industrial Company, Mellat Bank and Tamin Petroleum and Petrochemical Investment Company.
Telecommunication Company of Iran gave the biggest boost to the benchmark index, followed by Pars Minoo Company, Pars Petrochemical Company and MAPNA Group.
The Price Index gained 1,846 points, or 0.70% to close at 266,391.7. The First Market Index increased by 883.71 points, or 0.12% to post 742,252.16.
The Second Market Index went up 31,468.06 points, or 1.61% to reach 1,988,558.63.
The Industry Index was up 7,897.92 points or 0.91% to register 876,087.78. The Free Float Index was up 10,476.6 points to hit 1,272,717.63.
TSE 30 went down 581.88 points to settle at 41,822.8 and the TSE 50 ended 114.86 points lower to finish at 37,631.56.
IFX Up 0.5%
Iran Fara Bourse main index, IFX, gained 56.56 points, or 0.5%, to close Tuesday trade at 11,291.82.
About 3.47 billion securities valued at 50.4 trillion rials ($291.35 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 669 million of its shares worth 4.17 trillion rials ($24.11 million) were traded.
Saba Tamin Investment Company, Lavan Oil Refining Company, Middle East Mines and Mineral Industries Development Holding Company and Hormozgan Steel Company had the most negative impact on IFX.
Esfahan Steel Company gave the biggest boost to IFX, followed by Zagros Petrochemical Company, Shahid Tondgooyan Petrochemical Company and Omid Taban Hour Energy Management Company.