Tehran Stocks Close Uneventful Tuesday
EghtesadOnline: Tehran stocks closed unchanged, down a negligible 0.41% in a dull Tuesday session and a technical glitch also contributed to the lethargy. Uncertainty about global markets and lack of positive news domestically are the reasons for the unimpressive trading landscape.
As if these factors weren't enough, a declining foreign exchange rate further dampened the mood for export companies who have already taken a hit from the resurgent rial.
Volatility has tormented world stock investors in recent days as they assess the impact of a trade war that is grinding on and has the potential to slow the global economy.
Another negative trigger on Monday was the news that Prime Minister Theresa May of Britain, facing certain defeat in parliament, would seek to delay the vote on a deal for her nation’s exit from the European Union. British lawmakers had been expected to vote on the plan on Tuesday, according to Financial Tribune.
Tehran Stock Exchange’s main index lost 680.88 points or 0.41% on Tuesday to end trading at 166,235.0.
About 1.35 billion shares valued at 3.82 trillion rials ($35.87 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends on Wednesday.
The ‘One and One’ industrial group (a major food company) was the biggest winner as its shares went up 9.4% to 11,458 rials.
Neyriz White Cement Company incurred the biggest loss among all TSE-listed companies and went down 4.98% to 3,850,835 rials per share.
Isfahan Oil refining Company contributed the most to the benchmark's fall, followed by Bandar Abbas Oil Refining Company and National Iranian Copper Industries Co.
Tejarat Bank gave the biggest boost to the benchmark index, followed by Pardis Petrochemical Company (producer and supplier of ammonia and urea products) and Golgohar Mining and Industrial Company.
The Price Index lost 197.89 points to close at 48,323.7.
The First Market Index was down 421.35 points to post 122, 884.7. Second Market Index decreased by 1740.11 points to reach 329,134.9
The Industry Index went down by 700.76 points to register 150,814.2. Free Float Index was down 569.06 points to hit 178,494.26.
The TSE 30 went down 36.24 point to settle at 8,207.8 and the TSE 50 ended 37.04 points lower to finish at 7,225.3.
IFX Down 0.11%
Iran Fara Bourse’s main index IFX lost 2.1 points or 0.11% to close Tuesday trade at 1,855.64.
About 59.4 million securities and shares valued at about $2 million were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 18.8 million of its shares worth $364,485 million changed hands.
Fars & Khuzestan Tadbirgaran Investment Company and Tuka Refractories Co. registered the highest value increase.
Lavan Oil Refining Company and Alborz Distribution Company suffered the biggest decline.