Tehran Stocks Buoyed by Petrochem Shares
EghtesadOnline: Tehran stocks rallied on Monday amid rising demand for shares of major petrochemical firms. The main index of Tehran Stock Exchange TEDPIX gained 2,644.41 points, or 0.74%, on Monday to stand at 359,365.5.
Persian Gulf Petrochemical Industries Company, the biggest listed company in the bourse, contributed more than 900 points to the benchmark.
About 6.34 billion shares valued at 33.185 trillion rials ($256.25 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday, according to Financial Tribune.
Fars Cement Company was the biggest winner as its shares went up 5% to 103,691 rials per share.
Esfahan Pegah Dairy Company incurred the biggest loss among all TSE-listed companies and went down 4.8% to 48,339 rials per share.
Telecommunication Company of Iran contributed the most to the benchmark's fall, followed by Mobile Telecommunication Company of Iran, Khorasan steel Company and Iran Chemical Industries Investment Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Golgohar Mining and Industrial Company, Chadormalu Mining and Industrial Company and Mobarakeh Steel Company.
Iran Fara Bourse main index IFX gained 3.35 points or 0.07% to close Monday trade at 4,614.15.
About 3.04 billion securities valued at 20.614 trillion rials ($159.18 million) were traded at the over-the-counter exchange for the day.
Marun Petrochemical Company, Zagros Petrochemical Company, Hormozgan Steel Company and Damavand Power Generation Company had the most negative impact on IFX.
Goharzamin Iron Ore Company gave the biggest boost to the IFX, followed by Esfahan Steel Company, Shiraz Oil Refining Company and Arfa Iron and Steel Company.