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EghtesadOnline: Tehran stocks left behind a bearish trend in the last trading week that ended on Wednesday with capital flowing out thanks to retail traders rushing for the exits.

The benchmark of Tehran Stock Exchange, TEDPIX, lost the psychological 1.3million level in the middle of the week to close at 1,293,237 points. The benchmark lost 4.2% or 56,000 points.

The TSE’s equal-weighted index, too, shed close to 4.2% in the week. Unlike the market cap-weighted TEDPIX, the latter index gives the same weight to all stocks.

Capital outflow by retail investors rose 100% compared to the week before, reaching 22.35 trillion rials ($77 million).

This indicates that 4.4 trillion rials ($15m) in retail money exited the market on average per day. Capital outflow has continued for 15 straight sessions reaching 53.2 trillion rials ($183m) up until Wednesday.   

With the bearish trend and uncertainty looming large, value of retail trade declined 7% compared to the previous week. Average daily trade by retail investors stood at 25.6 trillion rials ($88m) last week compared to 27.6 trillion rials ($95m) the week before.   

Iran’s share market has been struggling with a crisis since August 2020 after prices made historic gains in a very short period only to plunge deep down.  

Observers say the market is in dire need of liquidity to make some sort of a comeback, arguing that the rising interbank rates, large-scale bond offers and mandatory pricing by the government on goods produced by listed companies are major risks that continue to harm share prices.


TSE Tehran Stocks