Tehran Stocks Plunge Further

EghtesadOnline: Tehran’s stock market opened trading week Saturday in negative territory as sell side pressure lingers and nervous investors disregard support measures announced by the government.

News ID: ۷۸۶۴۲۸

09 May 2021

The benchmark of Tehran Stock Exchange, TEDPIX, shed 4,800.42 points or 0.41% to end trade at 1,167,462.

Except for growth in 20 tickers, all the rest closed deep in the red indicating that investors remain pessimistic about the future of the market and are not impressed by the comprehensive support package announced by the government last week to lift the long depressed market.

About 3.02 billion shares valued at 26.96 trillion rials ($128.4 million) changed hands at TSE for the day. Darab Cement Company was the biggest winner as its shares went up 5.98% to 22,520 rials per share.

Orumieh Cement Company incurred the biggest loss among all TSE-listed companies and went down 4.29% to 35,450 rials per share.

Social Security Investment Company contributed the most to the benchmark's fall, followed by Persian Gulf Petrochemical Industries Company, Esfahan Oil Refining Company and Tehran Oil Refining Company.

National Iranian Copper Industries Company gave the biggest boost to the benchmark index followed by Pasargad Bank, Dr. Abidi Pharmaceutical Company and Jam Polypropylene Company.

IFB Down 0.34%

Iran Fara Bourse main index, IFX, lost 59.83 points or 0.34% to close Saturday trade at 17,365. About 495.54 million securities valued at 55 trillion rials ($261.95m) were traded at the junior exchange.

Gohar Zamin Iron Ore Company, Arya Sasol Polymer Company, Esfahan Steel Company and Shahid Tondgooyan Petrochemical Company had the most negative impact on IFX. Damavand Power Generation Company gave the biggest boost to IFX.