EghtesadOnline: Tehran stock market extended a winning streak on Sunday with the benchmark of Tehran Stock Exchange climbing above 1.5 million points as positive developments boosted sentiment.
TSE's main index, TEDPIX, gained 32,429.66 points or 2.18% to end trading at 1,523,105.76. The equal-weighted index hiked 2.37%, showing that both small and large cap shares gained at the same space.
The government plan to augment its revenue by selling shares in the next fiscal budget (2021-22), efforts by the parliament to send the list of malefactors in the stock market to judicial authorities and the Majlis plan to source funds for its ongoing direct subsidy plan by selling government shares were positive signs for the bourse.
Lawmakers passed a plan last week to grant 300,000 trillion rials ($1.2 billion) in direct subsidies to the lowest strata. Sunday's trade featured 31% increase in retail trade value showing that retail traders were making a comeback to the market.
Total trade value reached 229 trillion rials ($915 milion) on Sunday 204 trillion rials of which was conducted by retail investors, according to eghtesadnews.
About 13.6 billion shares valued at 160.89 trillion rials ($618.81m) changed hands at TSE for the day. Iran Casting Industries Company was the biggest winner as its shares went up 11.76% to 4,750 rials per share.
Alumrad Company incurred the biggest loss among all TSE-listed companies and went down 3.71% to 124,470 rials per share.
Telecommunication Company of Iran contributed the most to the benchmark's fall, followed by Parsian Bank, Pakshoo Industrial Group Company and Mellat Bank.
Social Security Investment Company gave the biggest boost to the benchmark index, followed by Persian Gulf Petrochemical Industries Company, Iran Khodro Company and Esfahan Oil Refining Company.
IFX Up 2.11%
Iran Fara Bourse main index IFX gained 397.64 points or 2.11% to close Sunday trade at 19,201.95.
About 4.4 billion securities valued at 69.98 trillion rials ($269.16m) were traded at the junior exchange for the day.
Day Bank, Damavand Power Generation Company, MahTaab Kahnouj Power Generation Company and Taliseh Nemooneh Dairy Farm Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Arya Sasol Polymer Company, Gohar Zamin Iron Ore Company and Zagros Petrochemical Company.