The selling pressure eased on Monday and the Tehran stock exchange partially recovered from the heavy losses of the last three sessions.
The Tehran Stock Exchange’s benchmark TEDPIX closed 0.51% higher, gaining 7,278.54 points to close the trade at 1,427,758. The index had lost 5% in three consecutive sessions.
The three-day correction phase made stock prices attractive to investors and boosted demand. However, market data indicates that net capital outflows continued on Monday for four consecutive days.
Net capital outflows from retail investors amounted to 3 trillion rials ($ 11 million) for the day, bringing the amount in four days to 25 trillion rials ($ 92 million).
About 6.44 billion shares worth 44.93 billion rials ($ 166.4 million) changed hands to TSE for the day.
Omid Investment Management Group contributed the most to the benchmark’s fall, followed by Civil Pension Fund Investment Company, Bama Mining Company and Barakat Pharmaceuticals Group Company.
The Iranian national copper industries company gave the benchmark the biggest boost, followed by Mobin Energy Persian Gulf Company, Persian Gulf Petrochemical Industries Company and Parsian Oil and Gas Development Group Company.
Iranian Fara Stock Exchange’s main index, IFX, closed a bit above the flat line, gaining 19.63 points or 0.09% to close the trade on Monday at 21,166.22.
About 2.7 billion shares and securities valued at 72.61 trillion rials ($ 268.9 million) were traded on the junior exchange for the day.
The biggest loss was attributed to Fka Agricultural and Animal Husbandry Company with a 5% drop to 10,091 rials per share.
Pasargad Insurance Company, Minoo Industrial Group Company, Zagros Petrochemical Company and Tejaratno Insurance Company had the most negative impact on IFX.
The Sirjan Jahan Steel Complex gave IFX the biggest boost, followed by Arya Sasol Polymer Company, Sepehr Saderat Financial Group Investment Company and Gohar Zamin Iron Ore Company.