Tehran Stocks Fall Amid Sell-Off Rush

EghtesadOnline: The main gauge of Tehran Stock Exchange shed more than 3,800 points on Tuesday amid investors’ rush to sell shares to save profits.

News ID: ۷۴۸۴۷۷

18 September 2019

Stocks fell as investors were disturbed by a gloomy market outlook triggered by negative signals from regional political developments.

Boosted by the prospect of soaring crude oil prices, TSE had climbed more than 1% a day earlier thanks to rising demand for commodity stocks.

On Tuesday’s close, however, commodity stocks reversed course and contributed the most to the benchmark fall, Financial Tribune reported.

Market Performance

The TSE's main index TEDPIX lost 3,834.85 points or 1.25% on Tuesday to end trading at 302,082.3.

About 10.46 billion shares valued at 28.77 trillion rials ($251.34 million) changed hands at TSE for the day.

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

Loabiran Company (a glass producer) was the biggest winner as its shares went up 9.18% to 11,527 rials per share.

Hafez Tile and Ceramic Company incurred the biggest loss among all TSE-listed companies and went down 5% to 21,814 rials per share.

Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by Telecommunication Company of Iran, Chadormalu Mining and Industrial Company, Tamin Petroleum and Petrochemical Investment Company and Golgohar Mining and Industrial Company.

Khorasan Steel Company gave the biggest boost to the benchmark index, followed by Tejarat Bank, Bank Saderat Iran, and Jam Petrochemical Company.

The Price Index lost 1,030.68 points, or 1.25% to close at 81,191.2.

The First Market Index was down 3,020.99 points, or 1.35% to post 220,027.0. Second Market Index was down 6,746.70 points, or 1.09% to reach 612,146.3.

Industry Index went down by 3,810.73 points or 1.39% to register 270,637.3, and the Free Float Index was down 4,200.39 points to hit 346,738.31.

TSE 30 went down 198.48 points to settle at 12,880.4 and TSE 50 ended 177.45 points lower to finish at 11,771.2.

IFX Down 0.53%

Iran Fara Bourse main index IFX lost 21.31 points or 0.53% to close Tuesday trade at 3,990.08.

About 1.65 billion securities valued at 10.96 trillion rials ($96.18 million) were traded at the over-the-counter exchange for the day.

Esfahan Steel Company had the highest number of traded shares and trade value as 298.71 million of its shares worth 591.64 billion rials ($5.19 million) were traded.

Marun Petrochemical Complex, Damavand Power Generation Company and Zagros Petrochemical Company had the most negative impact on IFX.

Ghasem Iran Company (active in distribution industry) gave the biggest boost to IFX, followed by Bank Day, Pasargad Oil Company and Esfahan Steel Company.