EghtesadOnline: Tehran share market was choppy on Monday as a rally in the opening hours soon turned into heavy sell-off by nervous investors.
The main gauge of Tehran Stock Exchange, TEDPIX, shed 26,175.89 points to plunge 1.81%, closing at 1,416,339.
Sell-side pressure was a bit less intense for small caps and penny stocks as seen in the TSE’s equal-weighted index. Giving the same weight to all stocks, the index was down almost 1%.
Share prices fell due to a combination of factors, most notably the decline in currency rates, an issue that often impacts the performance of large listed companies, including export-based companies.
About 5.48 billion shares valued at 44.44 trillion rials ($164.6 million) changed hands at TSE on Monday. Tehran Stock Exchange Company was the biggest winner as its shares went up 50.7% to 15,520 rials per share.
Tehran Cement Company incurred the biggest loss among all TSE-listed companies and went down 4.99% to 96,120 rials per share.
Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by Persian Gulf Petrochemical Industries Company, National Iranian Copper Industries Company and Social Security Investment Company.
Tehran Stock Exchange Company gave the biggest boost to the benchmark index followed by Pakshoo Industrial Group Company, Islamic Republic of Iran Shipping Lines Company and Barakat Pharmaceuticals Group Company.
IFX Down 1.2%
Iran Fara Bourse main index, IFX, lost 242.16 points or 1.18% to close Monday trade at 20,287.
About 2.55 billion securities valued at 687.38 trillion rials ($2.5 billion) were traded at the junior exchange for the day.
Arya Sasol Polymer Company, Zagros Petrochemical Company, Shahid Tondgooyan Petrochemical Company and Esfahan Steel Company had the most negative impact on IFX.
Minoo Industrial Group Company gave the biggest boost to IFX, followed by Omid Taban Hour Energy Management Company, Arfa Iron and Steel Company and Saman Insurance Company.