EghtesadOnline: After a fragile gain a session earlier, stocks stumbled in Tehran on Monday to buck a rising trend that extended for five sessions.
The main gauge of Tehran Stock Exchange, TEDPIX, lost 7,083 points, or 0.56%, for the day to end trading at 1,257,286. The drop could be deeper if it were not because of an asymmetrical daily price range enforced by the stock market regulator on Saturday, allowing price shares to drop by a maximum 2% each day.
As per the temporary plan enforced by Securities and Exchange Organization, enforced share prices spread asymmetrically from -2% to +6% per day instead of the previous ±5%.
Price decline in most large caps dragged down TEDPIX while the equal-weighted index closed slightly above the flatline due to a comparably better performance of small caps.
On Monday, prices in 328 tickers declined, representing 66% of the total tickers listed at TSE and the junior exchange Iran Fara Bourse, according to Eghtesad News website.
About 6.94 billion shares valued at 76.76 trillion rials ($307.05 million) changed hands at TSE for the day.
Sepanta Communication Development Company was the biggest winner, as its shares went up 5.95% to 420,920 rials per share.
Iran Tire Company incurred the biggest loss among all TSE-listed companies and went down 13.06% to 4,860 rials per share.
Social Security Investment Company contributed the most to the benchmark's fall, followed by Mobarakeh Steel Company, Persian Gulf Petrochemical Industries Company and Chadormalu Mining and Industrial Company.
National Iranian Copper Industries Company gave the biggest boost to the benchmark index followed by Bandar Abbas Oil Refining Company, Khorasan Steel Company and Barakat Pharmaceuticals Group Company.
IFX Down 0.48%
Iran Fara Bourse’s main index, IFX, lost 84.73 points, or 0.48%, to close the Monday trade at 17,731.66.
About 1.72 billion securities valued at 173.55 trillion rials ($694.23 million) were traded at the junior exchange for the day.
Pasargad Insurance Company, Arya Sasol Polymer Company, Zagros Petrochemical Company and Saba Tamin Investment Company had the most negative impact on IFX.
MAPNA Asaluyeh Power Generation Company gave the biggest boost to IFX followed by Tabas Parvardeh Coal Company, Gohar Zamin Iron Ore Company and Saman Insurance Company.