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EghtesadOnline: Tehran stocks rallied at the start of trading week on Saturday boosted by demand for refinery shares amid a sell-off in auto and telecom equities.

The main gauge of Tehran Stock Exchange gained close to 7,000 points for the day, sending TEDPIX  more than 1.5% higher to close trade at an all time high of 452,842 points, Financial Tribune reported.

At odds with dominant trends in past weeks, Saturday’s session marked growth in price of shares of most large-cap companies and blue chip stocks, including petrochemical, refinery and metal companies. 

This is while sell-off in equities of a significant number of small-cap companies caused the equal-weighted index to close the session way lower at 0.37% for the day. Equal-weighted index gives the same weight to all stock irrespective of their market cap.  

The sell-off particularly affected stocks in auto, telecom, mass construction, sugar and leasing companies, according to stock market analytical website Donyaye Bourse. Shares of these companies were among the high rewarding stocks in recent months. 

Out of a total of 315 active listed companies on Saturday, 168 closed higher and the symbol tickers of 147 companies were in the red. A total of 45 companies closed at the maximum daily prices.  


Market Performance 

TSE's main index TEDPIX gained 6,948.24 points, or 1.56%, on Saturday to end trading at 452,842.3.

About 9.96 billion shares valued at 48.23 trillion rials ($357.26 million) changed hands at TSE for the day.

Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.

Iran Mercantile Exchange was the biggest winner as its shares went up 5% to 36,583 rials per share.

Saadi Tile Company incurred the biggest loss among all TSE-listed companies and went down 5% to 21,238 rials per share.

Telecommunication Company of Iran contributed the most to the benchmark's fall, followed by Iran Khodro Company (IKCO), SAIPA Automaker Company and National Iranian Copper Industries Company.

Tamin Petroleum and Petrochemical Investment Company gave the biggest boost to the benchmark index, followed by Persian Gulf Petrochemical Industries Company, Bandar Abbas Oil Refining Company and Esfahan Oil Refining Company.

The Price Index gained 1,855.02 points, or 1.56% to close at 120,845.0.

The First Market Index increased 5,243.37 points, or 1.63% to post 327,291.4. Second Market Index increased by 13,267.21 points, or 1.45% to reach 929,218.2.

The Industry Index increased by 6,322.59 points or 1.59% to register 402,841.6. The Free Float Index was up 7,402.45 points to hit 547,727.48.

TSE 30 gained 331.67 points to settle at 18,767.2 and the TSE 50 ended 340.02 points higher to finish at 16,988.8.


IFX Up 1.63%

Iran Fara Bourse main index IFX gained 92.38 points, or 1.63%, to close Saturday trade at 5,747.36.

About 4.24 billion securities valued at 27.19 trillion rials ($201.46 million) were traded at the over-the-counter exchange for the day.

Esfahan Steel Company recorded the highest number of traded shares and trade value as 860.69 million of its shares worth 2.49 trillion rials ($18.47 million) were sold.

Kerman Development and Investment Company, Ghasem Iran Company (distribution industry), Bahman Diesel Company and Day Insurance Company had the most negative impact on IFX.

Middle East Mines and Mineral Industries Development Holding Company gave the biggest boost to IFX, followed by Esfahan Steel Company, Damavand Power Generation Company and Zagros Petrochemical Company.


Telecom Iran Stocks equities Auto Demand Tehra refinery shares sell-off