Tehran Stocks Rally Continues
EghtesadOnline: Cheered by the seasonal performance report of listed companies, stocks in Tehran’s market continued to extend earlier gains on Monday, amid the weak performance of world stocks.
The main gauge of Tehran Stock Exchange climbed 1.1% on Monday, sending TEDPIX to a record high of 249,447 points. The stocks’ rally started Sunday following a weeklong lukewarm performance before gaining pace on Monday.
Retail investors, who were in the sell position over the past week, turned into buyers on Monday’s trade, according to Donyaye Bourse website.
Major global stocks tumbled on Monday. In Asia, there was a wide selloff with the Shanghai composite in China dropping 2.58%. In Japan, the Nikkei 225 slipped 0.98% to end its trading day at 21,534.35, Financial Tribune reported.
European stocks moved little, with the pan-European STOXX 600 Index adding 0.04%.
Domestic Market Performance
TEDPIX gained 2,805.40 points or 1.14% on Monday to end trading at 249,447.4.
More than 5.03 billion shares valued at 13.06 trillion rials ($102.09 million) changed hands for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends Wednesday.
Barakat Pharmaceutical Group was the biggest winner, as its shares went up 11.82% to 2,847 rials per share.
Aabsal Company, home appliance manufacturer, incurred the biggest loss among all TSE-listed companies and went down 5% to 31,160 rials per share.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Persian Gulf Petrochemical Industries Company, Pars Petrochemical Company, Omid Investment Comoany, Golgohar Mining and Industrial Complex and Chadormalu Mining and Industrial Company.
Jam Petrochemical Company contributed the most to the benchmark's decline, followed by National Iranian Copper Industries Company, Esfahan Oil Refining Company and Bandar Abbas Oil Refining Company.
The Price Index gained 787.00 points to close at 69,917.5.
First Market Index was up 2,124.12 points to post 184,492.1.
Second Market Index increased by 5,328.33 points to reach 492,036.3.
The Industry Index went up by 2,463.61 points to register 222,681.6.
Free Float Index was up 3,110.61 points to register 279,806.06.
TSE 30 went down 100.50 points to settle at 11,219.3 and TSE 50 gained 86.65 points to finish at 10,057.5.
Iran Fara Bourse’s main index IFX rose 0.55% to close Monday trade at 3,218.95 points.
Over 1.66 billion securities valued at 9.48 trillion rials ($74.08 million) were traded at the junior exchange for the day.