EghtesadOnline: Large cap stocks eked out gains at the opening of trading week on Saturday after lukewarm performance in the past few sessions.
Increase in demand for metal and petrochemical stocks pushed up the market-cap weighted index of Tehran Stock Exchange by 1.4%. The TEDPIX gained 21,234 points to closed session at 1,527, 451 points.
Two giant metal companies, namely Mobarakeh Steel Company and the National Iranian Copper Industries Company together added close to 7,000 points to TEDPIX.
Mostly in positive territory last week, the equal-weighted index climbed 1.36% on Saturday, indicating that the rally swept through both small and large caps.
About 15.76 billion shares valued at 169.37 trillion rials ($651.43 million) changed hands at TSE for the day.
Trading at TSE and the junior equity market Iran Fara Bourse starts on Saturday and ends Wednesday.
Iran Tire Company was the biggest winner as its shares went up 9.35% to 195,830 rials per share. Daroupakhsh company incurred the biggest loss among all TSE-listed companies and went down 4.44% to 53,220 rials per share.
Iran Khodro Company contributed the most to the benchmark's fall, followed by Tejarat Bank, SAIPA automaker and Bank Saderat Iran.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by National Iranian Copper Industries Company, Tamin Petroleum and Petrochemical Investment Company and Ghadir Investment Company.
IFX Up 1.71%
Iran Fara Bourse main index IFX gained 332.98 points or 1.71% to close Saturday trade at 19,764.88.
About 3.92 billion securities valued at 71.37 trillion rials ($274.52m) were traded at the junior exchange for the day.
Marun Petrochemical Company, Peyvand Gostar Pars Energy and Electric Company, Melal Credit Institution and Lavan Oil Refining Company had the most negative impact on IFX.
Middle East Mines and Mineral Industries Development Holding Company gave the biggest boost to IFX, followed by Arya Sasol Polymer Company, Zagros Petrochemical Company and Pasargad Insurance Company.