EghtesadOnline: Almost all large cap shares at Tehran Stock Exchange were under unrelenting sell side pressure on Tuesday, while many penny stocks experienced a price surge.
TSE's main index, the market cap-weighted TEDPIX, fell 0.9% for the day under mounting selloff pressure in blue chips.
Its equal-weighted index gained close to 0.2%, as small-sized listed companies, especially pharma, agro and tire companies, performed comparably better.
Bruising selloff in large caps is best shown in a 1.5% decline in TSE-30 Index, which tracks the performance of top TSE-listed companies.
Prices in 65% of listed companies at both TSE and the junior equity market Iran Fara Bourse dropped on Tuesday, comprising 319 tickers, according to Eghtesad News website.
The asymmetrical daily price spread set in favor of the market’s positive side prevented TEDPIX from further collapse.
Share prices spread asymmetrically from -2% to +6% per day instead of the previous ±5% since the beginning of trading week on Saturday.
About 38.648 billion shares valued at 88.155 trillion rials ($350 million) changed hands at TSE for the day.
Sazeh Puyesh Company and Abouraihan Pharmaceutical company were the biggest winners, as their shares went up 5.96% and 5.95%, respectively.
Nirou Chlor Company incurred the biggest loss among all TSE-listed companies and went down 2% to 55,410 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall. Khorasan Steel Company, on the other hand, gave the biggest boost to the benchmark index.
Iran Fara Bourse main index, IFX lost 97.68 points, or 0.55%, to close at 17633.98.
A total of 1.707 billion shares valued at 75.3 trillion rials ($300 million) were traded at the junior exchange for the day.