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EghtesadOnline: Sell-off pressure eased in the early hours of Sunday in Tehran's share market as demand for commodity stocks outweighed supply.

The large caps rally pushed up the main gauge of Tehran Stock Exchange, TEDPIX, by 0.5%. The market cap-weighted index gained 5,866.17 points on Sunday to end trade at 1,175,590.

Penny stocks were lukewarm as seen in the subtle 0.02% rise in TSE's equal-weighted index, which gives the same weight to all shares regardless of their market cap. 

Top gainers were stocks in refinery, petrochemicals, metal and technical engineering companies while almost all other share categories dropped. 

Blue chips were buoyed up largely by demand from institutional traders. Fixed income funds reportedly are among the buyers as they were obliged last week to allocate a bigger portion of their portfolio to stocks by the end of current calendar month on March 20. 

Despite the slight increase in TSE's benchmark, liquidity continued to flow out the market for 16 sessions in row with net capital outflow rising 21% compared with the previous session to reach 8.4 trillion rials ($18 million), according to Eghtesad News website. 

 

TSE Trade 

About 5.55 billion shares valued at 72.86 trillion rials ($303.58 m) changed hands at TSE for the day. Iran Merinos Manufacturing Company was the biggest winner as its shares went up 5.45% to 82,420 rials per share.

Noosh Mazandaran Company incurred the biggest loss among all TSE-listed companies and went down 1.99% to 59,680 rials per share.

National Iranian Copper Industries Company contributed the most to the benchmark's fall, followed by Omid Investment Management Group Company, Iran Khodro Company and Parsian Bank.

Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Ghadir Investment Company, Khouzestan Steel Company and Bandar Abbas Oil Refining Company.

 

IFB Up 0.24%

Iran Fara Bourse main index, IFX, gained 40.95 points or 0.24% to close Sunday trade at 16,945.98. About 1.3 billion securities valued at 145.02 trillion rials ($604.27m) were traded at the junior exchange for the day.

Pasargad Insurance Company, Esfahan Steel Company, Day Bank and Middle East Mines and Mineral Industries Development Holding Company had the most negative impact on IFX.

Zagros Petrochemical Company gave the biggest boost to IFX, followed by Arya Sasol Polymer Company, Saba Tamin Investment Company and Shiraz Oil Refining Company.

 

Tehran TEDPIX commodity