EghtesadOnline: Tehran shares rallied again on Sunday as demand remained high for shares of large companies and amid sell-off in majority of smaller companies.
The benchmark of Tehran Stock Exchange, TEDPIX, added 30,201 points and climbed 2.38% to close trading session at 1,300,828 points.
This is while sell-off hit many micro-cap stocks, mainly in cement, food, sugar and ceramic companies, causing the equal-weighted index comparably lower at 0.48%.
Cement shares drop on the rumors that the Industries Ministry may not approve to the suggested 63% increase in cement prices, news outlet reported.
With large-cap shares having the upper hand, the TSE-30 index soared 3.0%. The index tracks the performance of 30 largest companies listed with the TSE in terms of market capitalization.
Despite benchmark gain, 177 ticker symbols out of a total of 414 active symbols at TSE and the junior equity market Iran Fara Bourse closed in the red on Sunday.
The market was visibly dominated by retail investors on the buy side as they bought shares worth of 6.6 trillion rials ($35 million) from institutional players.
About 12.51 billion shares valued at 145.65 trillion rials ($766.62 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 Tractor Manufacturing Forging Company was the biggest winner as its shares went up 10.36% to 27,900 rials per share.
Tehran Cement Company incurred the biggest loss and fell 4.99% to 54,830 rials per share.
Mellat Bank contributed the most to the benchmark's fall, followed by Behshahr Industrial Development Corporation, Pardis Petrochemical Company and Fars and Khuzestan Cement Company.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Persian Gulf Petrochemical Industries Company, National Iranian Copper Industries Company and Social Security Investment Company.
IFX Up 2%
Iran Fara Bourse main index IFX gained 284.57 points or 2.01% to close Sunday trade at 14,464.19.
About 3.18 billion securities valued at 66.34 trillion rials ($349.17 million) were traded at the over-the-counter exchange for the day.
Esfahan Steel Company had the highest number of traded shares as 277.9 million of its shares worth 2.12 trillion rials ($11.17 million) were traded.
Iran Fara Bourse, Iran Cultural Heritage and Tourism Investment Group Company, Vitana Corporation and MAPNA Asaluyeh Power Generation Company had the most negative impact on IFX.
Zagros Petrochemical Company gave the biggest boost to IFX, followed by Middle East Mines and Mineral Industries Development Holding Company, Saba Tamin Investment Company and Shahid Tondgooyan Petrochemical Company.