Tehran Stocks Fall 2.5%

Sell-off hit most ticker symbols of large-cap shares from the early hours of trade as sell-side pressure continued throughout the day despite sporadic attempts by institutional traders to prop up demand.    

The equal-weighted index was also down 1.41% for the day as downturn in blue chips soon extended to majority of small-cap shares. 

Value of retail trade in both TSE and the junior equity market Iran Fara bourse reached close to 100 trillion rials ($430 million), a huge 65% decline compared to previous session’s close, according to the Persian-language economic news website eghtesadnews. 

While 465 ticker symbols (out of a total of 574) were under sell-off pressure, shares of most metal companies were in positive territory. The National Iranian Copper Industries Company accounted for highest value of traded shares with a trade value of 12 trillion rials, according to Donyaye Bourse website. 

Although the downturn was sparked by increase in offers by institutional traders in the middle of Monday’s session, the majority of sellers on Tuesday were retail investors. Market data indicate capital outflow to the tune of 14 trillion rials ($60 million) by retail traders. 

TSE Trade 

About 6.05 billion shares valued at 102.3 trillion rials ($444.76 m) changed hands at TSE on Tuesday.

Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.

One and One Food Industry Company was the biggest winner as its shares went up 8.01% to 353,350 rials per share. Behshahr Industrial Development Corporation incurred the biggest loss among all TSE-listed companies and went down 5% to 27,170 rials per share.

Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Social Security Investment Company, Mobarakeh Steel Company and Telecommunication Company of Iran.

National Iranian Copper Industries Company gave the biggest boost to the benchmark index, followed by Khouzestan Steel Company, Kish South Kaveh Steel Company and Pardis Petrochemical Company.

The Price Index lost 11,357.8 points, or 2.51% to close at 441,975.16. First Market Index lost 28,197.01 points, or 2.22% to post 1,239,483.27. Second Market Index went down 101,590.45 points, or 2.92% to reach 3,374,201.76.

The Industry Index was down 39,556.07 points or 2.60% to register 1,482,943.67. The Free Float Index was down 49,844.21 points to hit 2,298,970.98.

TSE 30 went down 1,611.52 points to settle at 87,639.94 and the TSE 50 ended 1,799.27 points lower to finish at 66,272.34.

IFX Down 2.04%

Iran Fara Bourse main index IFX lost 370.21 points, or 2.04%, to close Tuesday trade at 17,788.6.

About 1.32 billion securities valued at 30.83 trillion rials ($134.06m were traded at the junior equity exchange for the day.

Etemad Afarin Parsian Fund Company had the highest number of traded shares and trade value as 119.43 million of its shares worth 3.84 trillion rials ($16.7m) were traded.

Gohar Zamin Iron Ore Company, Arya Sasol Polymer Company, Shahid Tondgooyan Petrochemical Company and Esfahan Steel Company had the most negative impact on IFX.

Marun Petrochemical Company gave the biggest boost to IFX, followed by Pasargad Insurance Company, Gilan Electric Power Development Company and Omid Taban Hoor Energy Management Company.