Tehran Stocks Open Lower
EghtesadOnline: Tehran stocks opened trading week on Saturday under sell side pressure in a broad range of share categories, extending a long losing streak since mid-February.
The main gauge of Tehran Stock Exchange, TEDPIX, lost the psychological support level of 1.2 million points and dropped to 1,193,977.
The market cap-weighted TSE index shed 11,854.54 points and slipped 1% on Saturday. The downturn was the biggest since the stock market regulator enforced new daily price spread on Feb.13, based on which prices spread from -2% to +6% a day instead of the previous ±5%.
The new daily price spread has helped prevent the TEDPIX from further collapse as share prices can fall maximum 2% in a day.
About 6.8 billion shares valued at 68.42 trillion rials ($273.7 million) changed hands at TSE for the day. Shafa Darou Investment Company was the biggest winner as its shares went up 5.41% to 49,300 rials per share.
Azerbaijan Investment Development Company incurred the biggest loss among all TSE-listed companies and went down 2% to 87,710 rials per share.
The National Iranian Copper Industries Company contributed the most to the benchmark's fall followed by Mobarakeh Steel Company, Persian Gulf Petrochemical Industries Company and Social Security Investment Company.
Opal Kani Pars Mining and Processing Company gave the biggest boost to the benchmark followed by HiWeb Company, Shafa Darou Investment Company and Exir Pharmaceutical Company.
IFB Down 0.7%
Iran Fara Bourse main index IFX lost 130.83 points or 0.76% to close Saturday trade at 16,986.52. About 888.73 million securities valued at 57.16 trillion rials ($228.66m) were traded at the junior exchange for the day.
Middle East Mines and Mineral Industries Development Holding Company, Pasargad Insurance Company, Arya Sasol Polymer Company and Saba Tamin Investment Company had the most negative impact on IFX.
Alborz Investment Company gave the biggest boost to IFX followed by Isfahan Parsian Kowsar Hotel, Kerman Province Development Investment Company and Pegah Fars Dairy Company.