EghtesadOnline: Tehran stocks opened trading week on Saturday under fresh sell-side pressure in most large caps and commodity stocks.
The market cap weighted benchmark of Tehran Stock Exchange, TEDPIX lost 27,292.91 points and plunged 1.93%, retreating to 1,383,485.
The TSE-30 Index, which tracks the performance of top 30 companies in terms of market cap, dived deeper losing 2.5%.
Sell-side pressure hit a broad range of shares, but smaller players incurred comparably less loss as seen in the 0.86% fall in the TSE’s equal-weighted index.
About 6.22 billion shares valued at 61.72 trillion rials ($228m) changed hands at TSE on Saturday. Salemin Company was the biggest winner as its shares went up 4.98% to 3,412 rials per share.
Fars Cement Company incurred the biggest loss among all TSE-listed companies going down 4.87% to 57,810 rials per share.
Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by Persian Gulf Petrochemical Industries Company, Social Security Investment Company and Parsian Oil and Gas Development Group Company.
Fanavaran Petrochemical Company gave the biggest boost to the benchmark index followed by Iranian Investment Petrochemical Group Company, Barakat Pharmaceuticals Group Company and HiWeb Company (Dadeh Gostar Asr Novin).
IFX Down 1.2%
Iran Fara Bourse main index, IFX, lost 254.76 points or 1.26% to close Saturday trade at 19,988. About 2.26 billion securities worth 34.1 trillion rials ($126.3m) were traded at the junior exchange for the day.
Arya Sasol Polymer Company, Zagros Petrochemical Company, Pasargad Insurance Company and Gohar Zamin Iron Ore Company had the most negative impact on IFX.
Minoo Industrial Group Company gave the biggest boost to IFX, followed by Gilan Electric Power Development Company, Bahman Diesel Company and Negin Software Systems Development Company.