EghtesadOnline: The Tehran stock market saw one of its best days in two months on Saturday as prices of most shares rose. The main gauge of Tehran Stock Exchange, TEDPIX, climbed 3.3% gaining 39,454 points, the highest since Nov. 18.
The TSE benchmark was buoyed by surge in prices of blue chips and large caps in major metal, mineral, refinery, and bank and auto companies.
Large caps rally pushed up the TSE-30 index by 4.35% while the equal-weighted index was up 1.7% indicating that small caps were less attractive. TSE-30 index tracks the performance of 30 top companies in terms of market cap.
Prices of 369 ticker symbols increased representing 74% of the total tickers at the TSE and the junior equity exchange Iran Fara Bourse.
Trade value declined 43% for the day to reach 134.25 trillion rials ($590 million) as investors refused to sell anticipating a continued rally.
About 6.61 billion shares valued at 95.12 trillion rials ($396.34 m) changed hands at TSE for the day. Trading at TSE and IFB starts on Saturday and ends Wednesday.
Nirou Moharekeh Industrial Group Company was the biggest winner as its shares went up 7.17% to 5,680 rials per share.
Motor Sazan Iran Tractor Manufacturing Company incurred the biggest loss among all TSE-listed companies and went down 6.01% to 20,470 rials per share.
Sepid Farab Kavir Steel Manufacturing Company contributed the most to the benchmark's fall, followed by Ofogh Koorosh Chain Stores Company, Saman Kish Electronic Payment Company and Iran Kish Credit Card Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Social Security Investment Company.
IFX Up 2%
Iran Fara Bourse main index, IFX, gained 362.01 points or 2.03% to close Saturday trade at 18,183.13. About 2.49 billion securities valued at 38.96 trillion rials ($162.34m) were traded at junior exchange for the day.
Daroupakhsh Distribution Company, Ghasem Iran Company, Afranet Company and Kish Parsian Electronic Commerce Company had the most negative impact on IFX.
Arya Sasol Polymer Company gave the biggest boost to the IFX, followed by Zagros Petrochemical Company, Gohar Zamin Iron Ore Company and Minoo Industrial Group Company.