Sell Pressure on Stocks Eases

EghtesadOnline: Sell-side pressure in Tehran's share market partially eased Tuesday as seen in the noticeable increase in the value of trade and rise in buyers of large caps.

News ID: ۷۸۶۱۰۴

24 February 2021

Despite high demand in the late hours of trading, major indicators of the Tehran Stock Exchange closed in the negative zone.

Paring much of the early losses, the market cap-weighted TSE benchmark, TEDPIX, lost 2,715.58 points, or 0.22%, to end trading at 1,211,767.

Trade by retail investors reached 55.46 trillion rials ($220 million) up 115% compared to the earlier session and  indicating higher liquidity of shares.

About 6.7 billion shares valued at 66.56 trillion rials ($266.24m) changed hands at TSE for the day. Luleh and Mashinsazi Iran Company was the biggest winner as its shares went up 5.6% to 22,240 rials per share.

Kurdistan Cement Company incurred the biggest loss among all TSE-listed companies and went down 2% to 10,800 rials per share.

Persian Gulf Petrochemical Industries Company the most to the benchmark's fall, followed by Social Security Investment Company, Iran Khodro Company and Mapna Group.

National Iranian Copper Industries Company gave the biggest boost to the benchmark index followed by Mobarakeh Steel Company, Mines and Metals Development Investment Company and Kish South Kaveh Steel Company.

IFB Down

Iran Fara Bourse main index IFX lost 29.49 points or 0.17% to close Tuesday trade at 17,223.65. About 1.24 billion securities valued at 46.68 trillion rials ($186.74m) were traded at junior exchange for the day.

Esfahan Steel Company, Saba Tamin Investment Company, Gohar Zamin Iron Ore Company and Day Bank had the most negative impact on IFX.

Hormozgan Steel Company gave the biggest boost to IFX followed by Arya Sasol Polymer Company, Arfa Iron and Steel Company and Marun Petrochemical Company.

Caption: Paring much of the early losses, the market cap-weighted TSE benchmark, TEDPIX, lost 0.22% on Tuesday.