Tehran Stock Exchange Stops Near 1,000,000 Points

EghtesadOnline: While it was 2% shy of moving past the psychological 1,000,000 points, Tehran stocks slipped on Tuesday as sell-off pressure swept through a broad range of shares.

News ID: ۷۴۹۹۸۷

06 May 2020

The benchmark of Tehran Stock Exchange, TEDPIX, closed regular trading hours in negative territory to buck a bullish trend that had dominated the market for 20 sessions in a row.

However, the TSE closed Tuesday’s trade in the green after remarkable gains in shares of the recently listed Social Security Investment Company in after-hours trading.

TSE gained 1,465 points to climb 0.15% and stood  at 980,571 points for the day. The equal-weighted index was down 0.54%.

Being the fourth biggest company listed with the TSE, the SSIC pared 2,552 points of benchmark losses, caused mainly by the psychological climate created among investors over correction in prices  as the benchmark is poised to cross the ‘hyper-level’.

About 19.8 billion shares valued at 165.88 trillion rials ($1.05 billion) changed hands at TSE on Tuesday.

Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by MAPNA Group, Tamin Petroleum and Petrochemical Investment Company and Mobile Telecommunication Company of Iran.

Social Security Investment Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, Golgohar Mining and Industrial Company and Parsian Oil and Gas Development Group Company.

Iran Fara Bourse main index IFX lost 60.88 points, or 0.54%, to close Tuesday trade at 11,165.67.

Shahid Tondgooyan Petrochemical Company, Damavand Power Generation Company, Saba Tamin Investment Company and MAPNA Asaluyeh Power Generation Company had the most negative impact on IFX.

Iran Cultural Heritage and Tourism Investment Group Company gave the biggest boost to IFX, followed by Middle East Mines and Mineral Industries Development Holding Company, Marun Petrochemical Company and Lavan Oil Refining Company.