Business And Markets January 22, 2022 03:18 0 Share Market Registers Third Monthly Decline . . . . .
Tehran stocks ended the last calendar month on Jan. 20 down 3% registering the third consecutive month that stocks are under mounting pressure.
Over the past three months, the benchmark of Tehran Stock Exchange, TEDPIX, has lost more than 11% amid panic selling and retail investors’ rush to exit the lossmaking market.
Small caps incurred bigger losses as the TSE’s equal weighted index lost 3.6% in the month. Unlike the market-cap weighted TEDPIX, the index gives the same weight to all shares irrespective of their market cap.
Out of a total 21 business days last month, the market saw net capital outflow by retail investors in 20 sessions. According to data compiled by the Persian economic website Eqtesad News, net capital outflow by retail traders amounted to 61.5 trillion rials ($230 million) up 15% compared with the previous month.
Data show that a big segment of the outgoing money was channeled into fixed income investment funds as investors seek safe havens and less risky markets.
In the same month money inflow into fixed income investment was 16.4 trillion rials ($61 million).
Following historic gains in the first half of last fiscal year, Tehran’s share market is facing a major crisis while experts say it is in dire need for fresh infusions of liquidity to survive.
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