Shares Pare Earlier Losses
EghtesadOnline: Tehran’s share market pared earlier losses at the close of trading week on Wednesday as investors, buoyed by supportive measures, repositioned to the buy side.
The main index of Tehran Stock Exchange, TEDPIX, gained 39,515 points to climb 2.37%, closing trading session at 1,704,108.
Trade value reached 230.17 trillion rials ($920 million), which was 24.6% higher compared to the previous session, indicating that liquidity of shares has increased significantly, according to eghtesadnews.
The rally was led by the giants, including shares banks, mineral, petrochemical and steel companies. Many small shares were hit by sell-off causing the equal-weighted index to gain less. The index closed 0.49% higher for the day.
Supportive measures adopted by the regulator to boost demand is said to be the main reason driving the market. The measures include compulsion on market makers and main shareholders to inject money in the market to boost demand.
TEDPIX lost more than 25% in the deep downturn that started in early August.
About 17.35 billion shares valued at 178.14 trillion rials ($672.24 million) changed hands at TSE for the day.
Insurance Industry Investment Company was the biggest winner as its shares went up 11.23% to 4,060 rials per share.
Iran Darou Pharmaceutical Company incurred the biggest loss among all TSE-listed companies and went down 5.99% to 23,870 rials per share.
Parsian Bank contributed the most to the benchmark's fall, followed by Omid Investment Management Group Company and Shahed Investment Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Golgohar Mining and Industrial Company.
The Industry Index was up 37,360.37 points or 2.54% to register 1,508,356.91. The Free Float Index was up 52,749.89 points to hit 2,295,421.84.
TSE 30 went up 2,847.34 points to settle at 92,564.10 and the TSE 50 ended 1,858.50 points higher to finish at 68,581.28.
***IFX Up 2.69%
Iran Fara Bourse main index IFX gained 469.86 points or 2.69% to close Wednesday trade at 17,920.52.
About 2.44 billion securities valued at 54.17 trillion rials ($204.43m) were traded at the junior exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 367.04 million of its shares worth 2.57 trillion rials ($9.72m) were traded.
Omid Taban Hour Energy Management Company, Zagros Kowsar Power Generation Company, Tabarok Industrial Group Company and Gilan Electric Power Development Company had the most negative impact on IFX.
Gohar Zamin Iron Ore Company gave the biggest boost to IFX, followed by Pasargad Insurance Company, Marun Petrochemical Company and Arya Sasol Polymer Company.