Tehran Stocks Stumble

EghtesadOnline: An early hour rally in the Tehran stock market gave way to a sell-off on Tuesday, which swept through 366 ticker symbols or 80% of the market.

News ID: ۷۸۶۷۵۲

28 July 2021

TEDPIX, the main gauge of Tehran Stock Exchange, had gained 6,000 points in the early trade before paring it all later. The market cap weighted benchmark closed 8,400 points or 0.63% lower to retreat to 1,314,953.

Sell-side pressure was higher on small caps, dragging down the TSE’s equal-weighted index by more than 1.5%. Mineral stocks were the top gainers and refinery, tire, bank, auto, transportation, cement and ceramic stocks were the big losers.

About 6.31 billion shares valued at 55.92 trillion rials ($223.7 million) changed hands at TSE on Tuesday.

Razak Pharmaceutical Company was the biggest winner as its shares went up 6.73% to 34,390 rials per share. Mahram Manufacturing Group Company incurred the biggest loss among all TSE-listed companies and went down 34.72% to 69,880 rials per share.

Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by Social Security Investment Company, Esfahan Oil Refining Company and Tehran Oil Refining Company.

Golgohar Mining and Industrial Company gave the biggest boost to the benchmark index followed by Chadormalu Mining And Industrial Company, Omid Investment Management Group Company and Mines and Metals Development Investment Company.

IFX Down 0.25%

Iran Fara Bourse main index, IFX, lost 48.32 points or 0.25% to close Tuesday trade at 19,219. About 2.23 billion shares and securities valued at 92.43 trillion rials ($369.73m) were traded at the junior exchange for the day.

Hormozgan Steel Company, Minoo Industrial Group Company, Tadbirgaran Fars and Khuzestan Investment Company and Sanati Doodeh Fam Company had the most negative impact on IFX.

Gohar Zamin Iron Ore Company gave the biggest boost to IFX, followed by Pasargad Insurance Company, Esfahan Steel Company and Zagros Petrochemical Company.