Stocks Slumps for Six Sessions in a Row

EghtesadOnline: Extending a weeklong losing streak, trade in Tehran's share market slumped on Monday with investors struggling to cash their stocks.

News ID: ۷۸۶۰۹۸

23 February 2021

The main index of Tehran Stock Exchange, TEDPIX, lost 8,113 points or 0.66% to end trading at 1,214,500, extending a losing streak into the sixth straight day.

Share prices of 376 listed companies dropped accounting for 76% of the total ticker symbols at both the TSE and minor equity exchange Iran Fara Bourse.

Investors' efforts to sell again hit a wall amid lack of efficient demand. Value of shares put up for sale exceeded 50 trillion rials ($200 million), the highest in the past 24 sessions, according to Eghtesad News website.

About 2.48 billion shares valued at 25.93 trillion rials ($108m) changed hands at TSE. Goltash Company was the biggest winner as its shares went up 5.63% to 9,950 rials per share.

Fars Construction and Development Company incurred the biggest loss among all TSE-listed companies and went down 14.29% to 10,440 rials per share.

Mobarakeh Steel Company the most to the benchmark's fall, followed by Social Security Investment Company, Persian Gulf Petrochemical Industries Company and Golgohar Mining and Industrial Company.

National Iranian Copper Industries Company gave the biggest boost to the benchmark index followed by Omid Investment Bank, Parsian Insurance Company and Goltash Company.

IFB Down 0.86%

Iran Fara Bourse main index, IFX, lost 148.99 points or 0.86% to close Monday trade at 17,253.14. About 786.98 million securities valued at 122.92 trillion rials ($512.17m) were traded at the junior exchange for the day.

Day Bank, Arya Sasol Polymer Company, Zagros Petrochemical Company and Shahid Tondgooyan Petrochemical Company had the most negative impact on IFX.

Marun Petrochemical Company gave the biggest boost to IFX followed by Pegah East Azerbaijan Dairy Company, Mobin One Kish Company and Saina Hygienic Industries Company.