TSE trade volume at 6-month low

Trade value at Tehran Stock Exchange registered a year-to-date record low on Wednesday in the absence of a practical trigger to help the equity market get back on track.

Close to 261 million shares changed hands valued at $12.45 million amid the prevailing recession faced by many listed industries, high banking interest rates and western sanctions still in place.

As TSE data illustrate, TEDPIX slipped 80.5 points or 0.13% to end at 61,498. The Price Index lost 31.6 points or 0.13% to stand at 24,090.2. The First Market Index retreated 66.4 points or 0.16% to close at 42,764.6.

The Second Market Index was down 118.9 points or 0.09% to reach 136,070.1. The Industry Index fell 41.1 points or 0.08% to settle at 50,604.8. The Free Float Index was off 172.27 points or 0.25% to close at 68,106.7. The TSE 30 Index inched down 2.6 points or 0.1% to end at 2,627.2 and the TSE 50 Index fell 2 points or 0.08% to stand at 2,509.8.

More than 62% of listed companies dragged down the benchmark. Bank Mellat with a P/E of 4 and 14.96 points was the biggest laggard followed by Khuzestan Steel Company and Iran Khodro—Iran’s largest car manufacturer—with 10 and 6 points respectively.

Mobile Telecommunications Company of Iran with 10 points gave the biggest boost to TEDPIX. National Iranian Copper Industries Company and Ghadir Inve

By Financial Tribune