Share Market Malaise Persists
EghtesadOnline: Tehran stocks Saturday extended a long losing streak that has lasted for four straight sessions. However, sell-side pressure on large caps relaxed at the close of trade following the spike in currency prices.
The main gauge of Tehran Stock Exchange, TEDPIX, lost 5,305.34 points or 0.4% for the day to end trade at 1,334,765.92.
The TSE-30 index crept into positive territory to close slightly above the flatline. This index tracks the performance of top 30 companies in terms of market cap.
Small caps incurred bigger losses as seen in the 1.3% decline in the TSE’s equal-weighted index, which better reflects the performance of small caps.
About 8.4 billion shares worth 33.44 trillion rials ($119.4 million) changed hands at TSE for the day.
Azar Refractories Company was the biggest winner as its shares went up 4.95% to 13,790 rials per share. Arta Ardebil Cement Company incurred the biggest loss among all TSE-listed companies and went down 4.91% to 23,060 rials per share.
Mellat Bank contributed the most to the benchmark's fall, followed by Tejarat Bank, Telecommunication Company of Iran and Bank Saderat Iran.
Bandar Abbas Oil Refining Company gave the biggest boost to the benchmark index followed by Esfahan Oil Refining Company, Ghadir Investment Company and Persian Gulf Petrochemical Industries Company.
IFB Dips 0.5%
Iran Fara Bourse main index, IFX, lost 100.68 points or 0.52% to close Saturday trade at 19,134.94. About 2.81 billion securities valued at 17.33 trillion rials ($61.9m) were traded at the junior exchange for the day.
Gohar Zamin Iron Ore Company, Iran Fara Bourse, Esfahan Steel Company and Sirjan Jahan Steel Complex had the most negative impact on IFX.
Zagros Petrochemical Company gave the biggest boost to IFX, followed by Damavand Power Generation Company, Negin Software Systems Development Company and Lavan Oil Refining Company.