Large-Cap Stocks Lead
EghtesadOnline: Shares in Tehran closed trading week Wednesday with large-cap companies rallying in the absence of significant demand for small stocks.
The market-cap weighted benchmark of Tehran Stock Exchange, TEDPIX, gained 28,413 points for the day, soaring more than 2% to end trading session at 1,419,439 points.
This is while sell-off in many micro-cap shares caused the equal-weighted index to hardly gain 0.36%. The index gives the same weight to all shares irrespective of their market cap.
Interest in stocks of giant refinery, petrochemical, banks and base metal companies was the main factor driving the benchmark forward.
About 6.28 billion shares valued at 116.72 trillion rials ($592.49 million) changed hands at TSE for the day.
Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Chemi Darou Industrial Company was the biggest winner as its shares went up 22.48% to 42,500 rials per share.
Amin Pharmaceutical Company incurred the biggest loss among all TSE-listed companies and went down 4.99% to 22,450 rials per share.
Informatics Services Corporation contributed the most to the benchmark's fall, followed by Persian Gulf Fajr Energy Company, Behshahr Industrial Development Corporation and Mellat Bank.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by National Iranian Copper Industries Company, Social Security Investment Company and Esfahan Oil Refining Company.
IFX Up 0.69%
Iran Fara Bourse main index, IFX, gained 103.5 points or 0.69% to close Wednesday trade at 15,202.48.
About 4.16 billion securities valued at 68.33 trillion rials ($346.83 million) were traded at the over-the-counter exchange for the day.
Jahrom Power Plant Development Company, Damavand Power Generation Company, Omid Taban Hour Energy Management Company and Saba Tamin Investment 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 Zagros Petrochemical Company, Hormozgan Steel Company and Esfahan Steel Company.