EghtesadOnline: After small gains in Saturday’s trades, the Tehran Stock Exchange continued to rally on Sunday to break another record amid excessive demand for both small and big shares mainly in metal and refinery products.
The TSE’s main index, TEDPIX, rose 3,956 points to end trading day at 209,243 points on Sunday.
The market was boosted mainly by refinery stocks following the rise in currency rates in Nima ( the Integrated Forex Deal System). Non-oil export revenues, including earnings of refinery and petrochemical companies are offered on Nima.
According to the Donyaye Bourse Website, positive performance reports of stock companies, higher capacity of the stock market for better yields amid listlessness of parallel markets, and the flow of new liquidity into the stock market is said to be the main reason for the recent stock market boom, Financial Tribune reported.
The bullish trend since the beginning of the current fiscal (started March 21) comes after investors were disheartened by the bearish parallel markets.
Market observers believe that the relative stability in the currency and gold markets has dented investor hopes of parking money in the two safe havens.
TEDPIX Rose 1.93%
Tehran Stock Exchange’s main index TEDPIX gained 3,956.52 points or 1.93% on Sunday to end trading at 209,243.9.
More than 4.7 billion shares valued at 15.09 trillion rials ($105.58million) changed hands for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends Wednesday.
Iranian Parental and Pharmaceutical Company, was the biggest winner as its shares went up 40.83% to 10,861 rials per share.
Parsian Bank incurred the biggest loss among all TSE-listed companies and went down 4.84% to 1,690 rials per share.
Gohar Zamin Iron Company gave the biggest boost to the benchmark index, followed by Damavand Power Generation Company, Esfahan Steel Company (ESCO), and Middle East Mines & Mineral Industries Development Holding Company (MIDHCO).
Parsian Bank contributed the most to the benchmark's fall followed by Pasargad Insurance and Omran Shahed Company.
The Price Index gained 1,140.32 points to close at 60,303.1. First Market Index was up 3,401.29points to post 157,650.3.
Second Market Index increased by 5,590.57 points to reach 400,161.6. The Industry Index went up by 3,766.88 points to register 188,404.9.
Free Float Index was up 4,382.47 points to register 236,271.37.
The TSE 30 went up 229.02 points to settle at 10,227.3 and the TSE 50 gained 171.48 points lower to finish at 8,808.7.
Iran Fara Bourse’s main index IFX rose 1.94% to close Saturday trade at 2,568.39 points.
Over 1.57 billion securities valued at 7.07 trillion rials ($49.46 million) were traded at the junior exchange for the day.