TEDPIX Snaps Winning Streak

EghtesadOnline: Tehran Stock Exchange broke a six-day winning streak as investors shifted their attention away from commodity stocks. The market's main index was able to grow by 2.5% during the past six sessions and pare some of the past heavy losses.

News ID: ۷۴۶۴۲۸

14 January 2019

Commodity and refinery stocks, which had gained renewed attention after recovery in global oil prices,  failed to meet the expectations of investors after they digested their earnings’ reports.

This is while car stocks rose again after Saipa followed in the footsteps of its arch rival Iran Khodro on Saturday to increase factory prices by 30%. The latest development came as regulatory agencies allowed the two carmakers to raise prices within a close market margin from January 21.

TSE's main index TEDPIX lost 436.12 points or 0.26% on Sunday to end trading at 164,493.8, Financial Tribune reported.

About 4.30 billion shares valued at 9.49 trillion rials ($83.25 million) changed hands for the day.

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

Saipa Group (one of the two main carmakers) was the biggest winner as its shares went up 5.9% to 1,436 rials.

Mahram Company (a food company) incurred the biggest loss among all TSE-listed companies and went down 5% to 33,852 rials per share.

Pars Petrochemical Company contributed the most to the benchmark's fall, followed by Tamin Oil & Gas Company and Isfahan Oil Refining Company.

Saipa Group gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company and Bank Mellat.

The Price Index lost 126.39 points to close at 47,693.0.

The First Market Index was down 106.31 points to post 121, 803.7. Second Market Index decreased by 1,900.39 points to reach 324.705.6

The Industry Index went down by 544.50 points to register 147,211.5. Free Float Index was down 135.96 points to hit 179,463.95.

TSE 30 went down 17.77 points to settle at 8,004.3 and the TSE 50 ended 29.30 points lower to finish at 7,058.7.

Iran Fara Bourse’s main index IFX lost 7.96 points or 0.41% to close Tuesday trade at 1,933.71.

About 898 million shares and securities valued at $31.39 million were traded at the over-the-counter exchange for the day.