The main gauge of Tehran Stock Exchange, TEDPIX, lost 40,602 points and plunged 3.12%. The benchmark fell below the critical 1.3 million points to close at 1,260,722 points.
Unlike small caps that were traded mostly in positive territory, blue chips and large caps struggled under sell-off pressure. The former crept into the red zone later as the number of nervous sellers rose.
The TSE-30 Index lost 4% at the close of the session, showing that the large caps were hit the hardest. The index tracks the performance of 30 top TSE-listed companies in terms of market capitalization. The equal-weighted index was down 1.31% and normally gives a better picture on the performance of small cap stocks.
Tuesday witnessed capital outflow unseen in the recent past. While institutional investors tried to inject money and boost demand, retail traders fled with net capital outflow reaching more than 19 trillion rials ($76 million), up 175% compared to the previous session and the highest since Dec. 15, according to the Persian economic website eghtesadnews.
TSE Trade
About 7.47 billion shares valued at 87.46 trillion rials ($349.85 m) changed hands at TSE for the day. HiWeb Company was the biggest winner as its shares went up 5% to 28,350 rials per share.
Barakat Pharmaceuticals Group Company incurred the biggest loss among all TSE-listed companies and went down 5% to 21,850 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Social Security Investment Company.
Sepid Farab Kavir Steel manufacturing Company gave the biggest boost to the benchmark index followed by HiWeb Company, Parsian Lotus Investment Bank and Middle East Bank.
IFX Down 2.47%
Iran Fara Bourse main index, IFX, lost 473.27 points or 2.47% to close Tuesday trade at 18,701.32. About 3.11 billion securities valued at 83.57 trillion rials ($334.3m) were traded at the junior exchange for the day.
Melal Credit Institution had the highest number of traded shares as 247.46 million of its shares worth 4.26 trillion rials ($17.07m) were traded.
Gohar Zamin Iron Ore Company, Arya Sasol Polymer Company, Zagros Petrochemical Company and Hormozgan Steel Company had the most negative impact on IFX.
Minoo Industrial Group Company gave the biggest boost to IFX followed by Kerman Development Investment Company, Daroupakhsh Distribution Company and Iranian Reinsurance Company.
Caption: The main gauge of Tehran Stock Exchange, TEDPIX, lost 40,602 points and plunged 3.12%.