Tehran Stocks Recover Partly

EghtesadOnline: Tehran stock market on Monday got some partial relief from the relentless sell-off pressures that dominated the market for almost two weeks.

News ID: ۷۴۸۷۸۱

22 October 2019

Main gauge of Tehran Stock Exchange TEDPIX gained 781.10, or 0.26%, for the day to 302,177.2, boosting investors’ sentiments regarding market prospects.

The benchmark briefly fell below the psychological level of 300,000 in early hours of trade but was boosted later by rising demand for commodity stocks.

About 3.20 billion shares valued at 13.35 trillion rials ($117.63 million) changed hands at TSE for the day, according to Financial Tribune.

AzarAb Industries Company was the biggest winner as its shares went up 5% to 4,600 rials per share.

North Drilling Company incurred the biggest loss among all TSE-listed companies and went down 12.68 % to 4,579 rials per share.

Eghtesad Novin Bank contributed the most to the benchmark's fall, followed by North Drilling Company, Dr. Abidi Pharmaceutical Company, and Darou Pakhsh Holding Company.

Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by National Iranian Copper Industries Company, Bandar Abbas Oil Refining Company and Pars Petrochemical Company.

The Price Index gained 211.35 points, or 0.26% to close at 81,212.2.

The First Market Index increased by 1,430.78 points, or 0.65% to post 220,242.8. Second Market Index went down 2,238.73 points, or 0.36% to reach 611,709.3.

The Industry Index increased by 809.53 points or 0.30% to register 270,525.5. The Free Float Index was down 46.56 points to hit 342, 312.76.

TSE 30 increased by 165.79 points to settle at 13,406.1 and the TSE 50 ended 121.66 points higher to finish at 12,135.5.

IFX Down 0.7%

Iran Fara Bourse main index IFX lost 26.24 points or 0.7% to close Monday trade at 3,706.51.

About 1.42 billion securities valued at 57.22 trillion rials ($504.2 million) were traded at the over-the-counter exchange for the day.

Esfahan Steel Company had the highest number of traded shares as 188.88 million of its shares worth 339.62 billion rials ($2.99 million) were traded.

Middle East Mines & Mineral Industries Development Holding Company, Ghasem Iran Company (a distribution company), Kowsar Insurance and Arfa Iron and Steel Company had the most negative impact on IFX.

Zagros Petrochemical Company gave the biggest boost to IFX, followed by Damavand Power Generation Company, MAPNA Asaluyeh Power Generation Company and Daroupakhsh Distribution Company.