Small-Cap Stocks Dip in Tehran Market

EghtesadOnline: After climbing 13% last week, the Tehran Stock Exchange lost some momentum at the opening of trading week on Saturday as sell-off visited majority of shares.

News ID: ۷۵۰۳۸۱

05 July 2020

TSE opened more than 35,000 points higher in the early hours of trade only to slide later as sell-off pressure mounted.

However, TEDPIX closed the session 8,466.12 points higher, up 0.52% on Saturday to end trading at 1,621,367.52.

Sell-off hit mainly small-cap shares, pushing the equal-weighted index 0.4% into negative territory, according to data on Tehran Securities Exchange Technology Management Company website.

About 14.05 billion shares valued at 206.76 trillion rials ($984.58 million) changed hands at TSE for the day.

Pars Electric Manufacturing Company was the biggest winner as its shares went up 5% to 224,520 rials per share.

Derakhshan Tehran Industrial Company incurred the biggest loss among all TSE-listed companies and went down 4.99% to 164,910 rials per share.

Mellat Bank contributed the most to the benchmark's fall, followed by Mines and Metals Development Investment Company, Khouzestan Steel Company and Mobile Telecommunication Company of Iran.

Esfahan Oil Refining Company gave the biggest boost to the benchmark index, followed by Iran Khodro Company, Parsian Oil and Gas Development Company and MAPNA Group.

Iran Fara Bourse main index, IFX, lost 12.4 points and ended at flatline (0.07%) to close Saturday trade at 16,987.7.

About 4.42 billion securities valued at 76.09 trillion rials ($362.36 million) were traded at the over-the-counter exchange for the day.

Jahrom Power Plant Development Company had the highest number of traded shares and trade value as 508.32 million of its shares worth 4.49 trillion rials ($21.37 million) were traded.

Middle East Mines and Mineral Industries Development Holding Company, Esfahan Steel Company, Hormozgan Steel Company and Iran Cultural Heritage and Tourism Investment Group Company had the most negative impact on IFX.

Gohar Zamin Iron Ore Company gave the biggest boost to IFX, followed by Pasargad Insurance Company, Day Bank and Damavand Power Generation Company.