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EghtesadOnline: Tehran stocks piled up more losses on Tuesday as the sell-off of majority of shares continued unabated but the overall volume of share sales kept diving.

The main index of Tehran Stock Exchange, TEDPIX, lost 37,185 points and dropped 2.31%. The benchmark fell below the supportive level of 1.6 million points to close at 1,570,010, the lowest since June 30. 

Tuesday’s trade also featured a steep decline in value of trade as many sale orders remained unprocessed amid uninterested buyers. TSE trade value reached 19.5 trillion rials ($82.85 million), much lower than the average 100 trillion rials a month in the not too distant past, according to data released by the Tehran Securities Exchange Technology Management Company. 

The significant decline in trade value is partly ascribed to the fact that the market regulator closed the ticker symbols of several highly popular shares, which are mostly large-caps, to avoid further plunge of the TEDPIX.  

 

TSE Trade 

An estimated 1.2 billion shares changed hands at TSE for the day. Piazar Cultivation and Industry Company was the biggest winner as its shares went up 3.84% to 82,770 rials per share.

Farabi Pharmaceutical Company incurred the biggest loss among all TSE-listed companies and went down 5% to 62,700 rials per share.

Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Golgohar Mining and Industrial Company.

South Khorasan Province Investment Company gave the biggest boost to the benchmark index, followed by Iran Tire manufacturing Company, Damavand Mining Company and Piazar Cultivation and Industry Company.

 

IFX Down 1.8%

Iran Fara Bourse main index, IFX, lost 306.22 points, or 1.8%, to close Tuesday trade at 16,666.95.

About 625.29 million securities valued at 55.18 trillion rials ($239.95m) were traded at the junior equity exchange market. 

Marun Petrochemical Company, Arya Sasol Polymer Company, Gohar Zamin Iron Ore Company and Zagros Petrochemical Company had the most negative impact on IFX.

Peyvand Gostar Pars Energy and Electric Company gave the biggest boost to IFX, followed by Sanati Doodeh Fam Company, Kharazmi IT Development Company and Urmia Petrochemical Company.

 

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