Stocks Buck 4-Day Rising Trend in Iran

EghtesadOnline: Tehran stocks paused on Sunday after rallying for four consecutive sessions as commodity stocks went into correction phase after relative gains.

News ID: ۷۸۶۴۵۳

17 May 2021

The main index of Tehran Stock Exchange, TEDPIX, closed a little below the flatline and dipped 0.07%. The TSE benchmark shed 783 points to end at 1,188,811 points.

While investors in commodity stocks largely lined upon the sell side to save past gains, auto stocks were the top winners on Sunday followed by shares in transportation and banking.

Penney stocks were hit hard by sell-off as seen in the more than 1% drop in equal-weighted index, which gives weight to all share irrespective of their market cap.

On Sunday 5.24 billion shares valued at 34.9 trillion rials ($151.73 million) changed hands at TSE. Opal Kani Pars Mining and Processing Company was the biggest winner as its shares went up 5.25% to 17,640 rials per share.

Loabiran Company, active in glaze industry, incurred the biggest loss among all TSE-listed companies and went down 38.42% to 13,480 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 Golgohar Mining and Industrial Company. The Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index followed by Chadormalu Mining And Industrial Company, Iran Khodro Company and Saipa Automaker Company.

IFB Gains 0.65%

Iran Fara Bourse main index, IFX, gained 113.93 points or 0.65% to close Sunday trade at 17,667. About 853.86 million securities valued at 13.08 trillion rials ($56.88m) were traded at the junior exchange for the day.

Esfahan Steel Company, Tabas Parvardeh Coal Company, Sepehr Saderat Financial Group Investment Company and Shahid Tondgooyan Petrochemical Company had the most negative impact on IFX.

Middle East Mines and Mineral Industries Development Holding Company gave the biggest boost to IFX, followed by Zagros Petrochemical Company, Arya Sasol Polymer Company and Hormozgan Steel Company.