Tehran Stock Market Selloff Unabated

EghtesadOnline: Tehran's share market opened trading week on Saturday again in red extending a bruising selloff that has lingered since the middle of last year.

News ID: ۷۸۶۳۶۸

18 April 2021

The main index of Tehran Stock Exchange, TEDPIX, lost 9,576 points or 0.77% to retreat to 1,233,781. The TSE-30 Index was down 1.2% while the TSE's equal weighted index dropped 0.25%.

The former tracks the performance of top 30 large cap stocks while the latter gives the same weight to all shares irrespective of their market cap.

Except for meager gains in some cement shares, almost all other stock categories dropped on Saturday. Capital outflow by retail investors continued for the day, reaching close to 5 trillion rials. The value of deals by retail traders declined more than 60% to amount to 12.8 trillion rials ($51m).

About 1.46 billion shares valued at 15.2 trillion rials ($60.83m) changed hands at TSE for the day. Darab Cement Company was the biggest winner as its shares went up 4.87% to 18,740 rials per share.

Iran Chemical Industries Investment Company incurred the biggest loss among all TSE-listed companies and lost 9.04% to 25,050 rials per share.

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

Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index followed by Pasargad Bank, Darab Cement Company and Dashtestan Cement Industries Company.

Iran Fara Bourse main index, IFX, lost 70.44 points or 0.39% to close Saturday trade at 17,880.86. About 412.2 million securities valued at 105.47 trillion rials ($421.9m) were traded at the junior exchange for the day.

Arya Sasol Polymer Company, Hormozgan Steel Company, Zagros Petrochemical Company and Saba Tamin Investment Company had the most negative impact on IFX. The Middle East Mines and Mineral Industries Development Holding Company gave the biggest boost to IFX.