Share Market Grip Weakens
EghtesadOnline: After sold gains in four previous sessions, Tehran stocks appeared lukewarm on Monday as investors were more inclined to sell and save gains.
The main index of Tehran Stock Exchange, TEDPIX, gained 0.24% adding 2,717.92 points for the day to close at 1,118,905.20.
TSE had soared more than 14% during four consecutive rallies since last Monday after three weeks of bear market and relatively deep correction in prices.
Monday’s session featured a sell-off in petrochemical, telecom and mineral stocks. However, demand was high for base metals and refineries.
About 10.71 billion shares valued at 136.94 trillion rials ($805.55 million) changed hands at TSE for the day.
Lorestan Sugar Company was the biggest winner as its shares went up 14.88% to 37,423 rials per share.
Mashhad Wheel Manufacturing Company incurred the biggest loss among all TSE-listed companies and went down 4.81% to 50,642 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by the Telecommunication Company of Iran, Golgohar Mining and Industrial Company and Tamin Petroleum and Petrochemical Investment Company.
National Iranian Copper Industries Company gave the biggest boost to the benchmark index, followed by Omid Investment Management Group Company, Parsian Oil and Gas Development Group Company and Esfahan Oil Refining Company.
IFX Up 0.74%
Iran Fara Bourse main index IFX gained 91.93 points or 0.74% to close Monday trade at 12,585.04.
About 3.5 billion securities valued at 61.3 trillion rials ($360.63 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares and trade value as 555.1 million of its shares worth 3.78 trillion rials ($22.24 million) were traded.
Saba Tamin Investment Company, Hormozgan Steel Company, Damavand Power Generation Company and Omid Taban Hour Energy Management Company had the most negative impact on IFX.
Gohar Zamin Iron Ore Company gave the biggest boost to IFX, followed by Arya Sasol Polymer Company, Esfahan Steel Company and Melal Credit Institution.