Tehran Stocks Hit New Peaks
EghtesadOnline: The main gauge of Tehran Stock Exchange climbed 1,221 points or 0.48% on Tuesday to enter the 257,000-point channel for the first time in its history.
The bourse was dominated by trade in the share of small companies as investors’ feared the fluctuation of commodity prices in international markets.
However, it seems that the negative effects of global markets on the domestic market faded away Tuesday, putting an end to days of selloff pressure, Donyaye Bourse website reported.
Mounting concerns over the trade war between the United States and China have given rise crude prices and a wide range of commodities in recent weeks, Financial Tribune reported.
In Tuesday’s trade, two telecommunication companies contributed the most to the benchmark index, adding more than 500 points to TEDPIX.
The upbeat trend also pushed bank stocks into a bull market amid investors’ expectation to reopen the symbol ticker of Bank Mellat, the leading listed entity in banking group.
The investors’ optimisms sent the shares of Tejarat Bank into positive territory, after being in the red for more than two weeks.
Trading at TSE and Iran Fara Bourse starts on Saturday and ends Wednesday.
Traders exchanged 4.29 billion shares worth 10.9 trillion rials ($93.9) at TSE on Tuesday.
Iran Construction Investment Company was the biggest winner as its shares went up 20.01% to 11,131 rials per share.
Kalber Dairy Company incurred the biggest loss among all TSE-listed companies and went down 4.85% to 7,731 rials per share.
Mobile Telecommunication Company of Iran gave the biggest boost to the benchmark index, followed by Telecommunication Company of Iran, Mobarakeh Steel Company, Informatics Services Corporation, and the Islamic Republic of Iran Shipping Line (IRISL).
Persian Gulf Petrochemical Industries Company contributed the most benchmark's fall followed by Chadormalu Mining and Industrial Company, MAPNA Group and Tehran Oil Refining Company.