EghtesadOnline: A sharp rally in the early hours of stock trade on Saturday gave way to sell-off in majority of ticker symbols as many rushed to sell and save gains.
The main index of Tehran Stock Exchange, TEDPIX, gained close to 28,000 points in early trade but took a reverse later as sell-side pressure mounted in some giant listed companies.
The market-cap weighted TEDPIX closed 1.58%, gaining 21,234 points to reach 1,366,535 points. The equal weighted index was up 0.6%.
The value of retail trade crossed 210 trillion rials ($800 million), the highest since Sept.22. Retail trade value rose 88% compared to the earlier session.
The highest trade value was recorded for shares of the Social Security Investment Company, known as Shasta, with more than 24 trillion rials.
TSE gained more than 9% in consecutive rallies last week, marking a relatively solid weekly gain after weeks of bear market, which apparently convinced investors to sell and save.
About 20.83 billion shares valued at 183.27 trillion rials ($704.91 million) changed hands at TSE for the day.
Sabanour Mining and Industrial Development Company was the biggest winner as its shares went up 17.15% to 42,080 rials per share.
Sahand Rubber Industries Company incurred the biggest loss among all TSE-listed companies and went down 4.92% to 42,920 rials per share.
Mobarakeh Steel Company contributed the most to the benchmark's fall, followed by Khouzestan Steel Company, Nouri Petrochemical Company and Kish South Kaveh Steel Company.
National Iranian Copper Industries Company gave the biggest boost to the benchmark index, followed by Social Security Investment Company, Golgohar Mining and Industrial Company and Esfahan Oil Refining Company.
The Industry Index was up 19,582.39 points or 1.65% to register 1,204,741.76. The Free Float Index was up 23,912.89 points to hit 1,847,792.55.
TSE 30 went up 1,444.36 points to settle at 70,744.86 and the TSE 50 ended 997.07 points higher to finish at 53,682.64.
Iran Fara Bourse main index, IFX, closed a little below the flat-line and lost 5.55 points, or 0.03%, to close Saturday trade at 16,641.37. About 3.54 billion securities valued at 55.2 trillion rials ($212.33m) were traded at the over-the-counter exchange for the day.
Arya Sasol Polymer Company, Hormozgan Steel Company, Sepehr Saderat Financial Group Investment Company and Omid Taban Hour Energy Management Company had the most negative impact on IFX.
Day Bank gave the biggest boost to IFX, followed by Shahid Tondgooyan Petrochemical Company, Damavand Power Generation Company and Gohar Zamin Iron Ore Company.