Quarterly Reports Lift Stocks in Tehran
EghtesadOnline: Following a weeklong lethargic performance, Tehran stocks rallied on Sunday as investor sentiment was boosted by seasonal financial reports released by major commodity companies.
The main gauge of Tehran Stock Exchange gained more than 3,000 points on Sunday and climbed 1.31%.
Demand for stocks of petrochemical, refinery and metal companies had been rising since the later hours of trading day on Saturday as more companies published their spring reports on codal - an information website for instant official publication of corporate data and news.
According to Donyaye Bourse website, three petrochemical companies, namely Fanavaran Petrochemical Company, Pardis Petrochemical Company and Kermanshah Petrochemical Industries Company reported outstanding financial performance for spring, Financial Tribune reported.
However, stocks of some smaller companies, especially in the cement group, were hit by a selloff as investors seemed disheartened by their poor financial performance.
TSE’s main index TEDPIX gained 3,224.20 points Sunday to end trading at 249,661.6.
More than 1.64 billion shares valued at 10.76 trillion rials ($88.22 million) changed hands for the day.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends Wednesday.
Darab Cement Factory was the biggest winner as its shares went up 11.85% to 3,860 rials per share.
Absal Home Appliances Company incurred the biggest loss among all TSE-listed companies and went down 5% to 27,676 rials per share.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Golgohar Mining and Industrial Company, Pars Petrochemical Company, Parsian Oil and Gas Development Group Company and Tamin Petroleum and Petrochemcial Investment Company.
MAPNA Group contributed the most benchmark's fall followed by National Investment Company of Iran, Absal Home Appliances Company, and Mellat Insurance.
The Price Index gained 885.20 points to close at 68,540.2.
First Market Index was up 2,140.82 points to post 183,898.8. Second Market Index increased by 7,472.13 points to reach 496,807.1.
The Industry Index went up by 3,239.34 points to register 223,855.3. Free Float Index was up 3,279.95 points to register 277,362.49.
The TSE 30 went up 172.31 points to settle at 11,270.5 and the TSE 50 gained 150.42 points lower to finish at 10,138.4.
Iran Fara Bourse’s main index IFX rose 0.61% to close Sunday trade at 3,232.6 points.
Over 843.95 million securities valued at 7.37 trillion rials ($60.41 million) were traded at the junior exchange for the day.