Fresh Stress Grips Tehran Stock Exchange

EghtesadOnline: Selloff pressure mounted on Tehran’s share market on Sunday particularly impacting blue chips and commodity stocks spurred by the pattern of decline in currency prices.

News ID: ۷۸۷۵۹۷

10 January 2022

The main gauge of Tehran Stock Exchange, TEDPIX, lost 25,679 points or 1.88% for the day to end trade at 1,336,778.

The TSE-30 Index logged a bigger loss giving up 2.3%. The index tracks the performance of top 30 TSE-listed companies in terms of market cap.

Large caps, including petrochemical, mineral, steel and metal producers, are very sensitive to forex rates.  Steep decline in currency prices on Sunday weakened the sentiment of shareholders of these export-based companies simply because lower exchange rates harm their margins.

Giving a better picture of small caps, the TSE’s equal-weighted index was down 1.66%.

About 4.96 billion shares valued at 29.4 trillion rials ($105 million) changed hands at TSE on Sunday. Leasing Khodro Ghadir Company was the biggest winner as its shares went up 4.93% to 8,300 rials per share.

Sepanta Communication Development Company incurred the biggest loss among all TSE-listed companies and went down 4.97% to 465,370 rials per share.

Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Mobarakeh Steel Company, Parsian Oil and Gas Development Group Company and National Iranian Copper Industries Company.

Iran Khodro Company gave the biggest boost to the benchmark index followed by Islamic Republic of Iran Shipping Lines Company, Padideh Shimi Gharn Company and Butane Industrial Group Company.

IFB Down 1.4%

Iran Fara Bourse main index, IFX, lost 256.08 points or 1.39% to close Sunday trade at 18,117.5. About 1.67 billion securities valued at 26.64 trillion rials ($95.2m) were traded at the junior exchange for the day.

Ghiam Isfahan Agricultural and Livestock Company had the highest number of traded shares as 110.87 million of its shares worth 148.76 billion rials ($531,314) were traded.

Arya Sasol Polymer Company, Zagros Petrochemical Company, Shahid Tondgooyan Petrochemical Company and Lavan Oil Refining Company had the most negative impact on IFX.

Negin Software Systems Development Company gave the biggest boost to IFX, followed by Gilan Electric Power Development Company, Zangan Zinc Industry Company and Isfahan Zinc Smelting Company.