Tehran Stocks in Correction Phase
EghtesadOnline: After rallying two sessions in a row, Tehran stocks went into correction phase on Tuesday as the benchmark of Tehran Stock Exchange failed to advance above the resistance level of 1.3 million point.
TEDPIX, the main gauge of TSE, lost 414 points or 0.03% to end trading at 1,303,921. The TSE’s equal-weighted index shed 0.08%, indicating that both small and large caps had a lukewarm performance.
Main losers were agriculture, metal, electronic, cement and transportation stocks while shares in banks, pharmaceutical, refinery and mineral companies were among the top gainers.
Total value of trade declined 51% to reach 164.2 trillion rials ($670 million). However trade by retail investor increased 9.3% compared with a session earlier, amounting to 73.86 trillion rials ($301m).
About 7.93 billion shares valued at 67.3 trillion rials ($269m) changed hands at TSE for the day.
Shafa Darou Investment Company was the biggest winner as its shares went up 4.99% to 41,890 rials per share.
Fars Chemical Industries Company incurred the biggest loss among all TSE-listed companies and went down 4.69% to 2,195 rials per share.
National Iranian Copper Industries Company contributed the most to the benchmark's fall, followed by Social Security Investment Company, Jam Petrochemical Company and Fanavaran Petrochemical Company.
Golgohar Mining and Industrial Company gave the biggest boost to the benchmark index followed by Mines and Metals Development Investment Company, Nouri Petrochemical Company and Chadormalu Mining And Industrial Company.
IFB Gains 0.3%
Iran Fara Bourse main index, IFX, gained 66.66 points or 0.35% to close Tuesday trade at 18,948.12. About 3.87 billion shares and securities valued at 185.07 trillion rials ($740.3m) were traded at the junior exchange for the day.
Day Bank had the highest number of traded shares as 1.26 billion of its shares worth 1.47 trillion rials ($5.9m) were traded. It also was the top winner at IFB as its shares gained 26% to 1,167 rials per share.
Arya Sasol Polymer Company, Omid Taban Hour Energy Management Company, Shahid Tondgooyan Petrochemical Company and Damavand Power Generation Company had the most negative impact on IFX.
Day Bank gave the biggest boost to IFX, followed by Marun Petrochemical Company, Gohar Zamin Iron Ore Company and Lavan Oil Refining Company.