Tehran Stocks Closes 2% Lower

EghtesadOnline: Downturn in the currency market extended to share prices in Tehran, particularly those of export-oriented companies.

News ID: ۷۵۱۴۲۳

08 November 2020

The main index of Tehran Stock Exchange, TEDPIX, lost 27,684, shedding 27,864 points to close trading session at 1,262,887 points.

The sell-off visited almost all stocks but export companies were hit harder as shareholders lost sentiment due to the weakening dollar.

Shares in some auto companies were the gainers of Saturday's trade while most mineral, steel, and petrochemical and refinery stocks lost value.

TSE Trade

About 6.14 billion shares valued at 40.4 trillion rials ($164.93 million) changed hands at TSE for the day.

Trading at TSE and the junior equity market Iran Fara Bourse starts on Saturday and ends Wednesday.

Pars Tile Company was the biggest winner as its shares went up 4.83% to 113,660 rials per share.

Pars Petroleum Company incurred the biggest loss among all TSE-listed companies and went down 5% to 133,020 rials per share.

Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by National Iranian Copper Industries Company, Golgohar Mining and Industrial Company and Chadormalu Mining and Industrial Company.

Iran Khodro Company gave the biggest boost to the benchmark index followed by Iran Tractor Forging Company, Barez Industrial Group Company and Iran Kish Credit Card Company.

The Industry Index lost 25,048.49 points or 2.20% to register 1,111,504.63. The Free Float Index was down 35,952.15 points to hit 1,710,060.77.

TSE 30 went down 1,866.25 points to settle at 61,821.86 and the TSE 50 ended 1,204.94 points lower to finish at 48,769.7.

IFX Down 1.69%

Iran Fara Bourse main index, IFX, lost 273.07 points or 1.69% to close Saturday trade at 15,891.72.

About 963.84 million securities valued at 38.55 trillion rials ($157.37m) were traded at the junior exchange for the day.

Sepehr Saderat Financial Group Investment Company had the highest number of traded shares as 88.71 million of its shares worth 1 trillion rials ($4.11m) were traded.

Marun Petrochemical Company, Arya Sasol Polymer Company, Zagros petrochemical Company and Sepehr Saderat Financial Group Investment Company had the most negative impact on IFX.

Minoo Industrial Group Company gave the biggest boost to IFX, followed by Tejaratnou Insurance Company, Iran Cultural Heritage and Tourism Investment Group Company and Pasargad Insurance Company.