Tehran Share Market Gives Up 3% in 1 Week
EghtesadOnline: While Tehran stocks closed most trading sessions last week uneventful, the benchmark of Tehran Stock Exchange, TEDPIX, lost almost 3% in the week.
The TEDPIX shed 43,000 points to stand at 1,393,960 points as of Wednesday, the last day of trade in the Iranian week.
TSE’s equal-weighted index suffered a bigger loss and lost 5% as majority of small stocks grapple with the pattern of panic selling, the Persian-language economic website Eqtesad News said.
Trade value of retail investors was 41 trillion rials ($150 million) in the week, indicating 22% decline compared to the 52.84 trillion rials ($195m) a week before.
As the bear market lingered, liquidity continued to flow out the market throughout the week. Net capital outflow by retail investors amounted to 19.2 trillion rials ($71m) last week indicating that 4.8 trillion rials in retail money left the market on average per day 95% higher than the preceding week.
According to Eqtesad News, at least a segment of the liquidity outflow poured into fixed income funds as the bear run in the stock market renders investment in funds more attractive.