EghtesadOnline: After four straight sessions of bear market, Tehran stocks closed in positive territory on Wednesday.
The main index of Tehran Stock Exchange, TEDPIX, gained 30,271 points to close at 1,611,452 points, paring 1.9% of earlier losses. The rally was backed by institutional traders who usually target shares of listed companies with big market cap to boost the market-cap weighted TEDPIX.
Small caps closed the session a little above the flat-line and the equal-weighted index gained 551 points to finish 0.13% higher.
While TEDPIX gained the majority of ticker symbols, mostly in small-cap shares, closed in the red.
Out of a total of 315 ticker symbols, 128 saw increase in prices, representing 41% of the total.
Total trade value of TSE and the junior equity market Iran Fara bourse increased 10% to reach 175.9 trillion rials ($648 million). This is while retail trade declined by 3.85% to stand at 123 trillion rials ($455m), according to the Persian-language economic news website eghtesadnews.
Capital outflow by retail traders was 6.6 trillion rial ($24m) on Wednesday.
About 14.37 billion shares valued at 143.98 trillion rials ($514.2m) changed hands at TSE for the day. Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.
Housing Investment Group Company incurred the biggest loss among all TSE-listed companies and went down 9.85% to 6,770 rials per share.
Tehran Oil Refining Company contributed the most to the benchmark's fall, followed by Esfahan Oil Refining Company, Parsian Bank and Telecommunication Company of Iran.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark, followed by Mobarakeh Steel Company, Tamin Petroleum and Petrochemical Investment Company and National Iranian Copper Industries Company.
The Industry Index was up 28,611.73 points or 2.04% to register 1,433,006.2. The Free Float Index was up 32,098.62 points to hit 2,152,499.03.
TSE 30 went up 2,017.91 points to settle at 85,589.23 while the TSE 50 ended 1,460.94 points higher to finish at 64,631.12.
IFX Up 1.82%
Iran Fara Bourse main index, IFX, gained 322.28 points, or 1.82%, to close Wednesday trade at 18,035.22.
Almost 3.35 billion securities valued at 49.95 trillion rials ($178.4m) were traded at the junior equity exchange.
Esfahan Steel Company, Kowsar Insurance Company, Melal Credit Institution and Gilan Electric Power Development Company had the most negative impact on IFX.
Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Marun Petrochemical Company, Saba Tamin Investment Company and Gohar Zamin Iron Ore Company.