EghtesadOnline: Tehran’s share market made one of the biggest advances on Tuesday rising for two sessions in a row as demand for most commodity shares remained high.
The main gauge of Tehran Stock Exchange, TEDPIX, gained 26,569.10 points or 2.12% to end trade at 1,218,130. Recovering from a two-session correction phase, the TEDPIX made the biggest daily gain in the past 26 trading sessions.
The TSE-30 Index jumped 2.7% as a broad range of large cap stocks experienced price rise. The index tracks the performance of top TSE-listed companies in terms of market cap.
Together with large caps small companies too performed well on Tuesday, pushing up the TSE’s equal weighted index by more than 1.3% -- the highest daily gain in 94 sessions, according to data compiled by the Eqtesad News website.
The stock market has been recovering of late as retail investors return to the once battered bourse. Trade value by retail investors hit a three-month high Tuesday reaching 73.3 trillion rials ($293 million) to post 33% growth compared to Monday.
Net capital inflow by retail traders jumped 186% to reach 4.41 trillion rials ($17m) with most of the money going into shares of the Social Securities Investment Company (known locally as Shasta).
About 7.35 billion shares valued at 60.77 trillion rials ($243.11 m) changed hands at TSE for the day. Iran Pharmaceutical and Injectable Products Company was the biggest winner as its shares went up 5% to 27,310 rials per share.
Pars Shahab Lamp Company incurred the biggest loss among all TSE-listed companies and went down 31.61% to 98,300 rials per share. The electronic company also contributed the most to the benchmark's fall, followed by Barakat Pharmaceuticals Group Company, Pars Khazar Company and Tehran Renovation and Construction 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.
IFB Up 0.72%
Iran Fara Bourse main index, IFX, gained 130.43 points or 0.72% to close Tuesday trade at 18,341.19. About 3.02 billion shares and securities valued at 76.36 trillion rials ($305.47m) were traded at the junior exchange for the day.
Kerman Province Development Investment Company had the highest number of traded shares as 779.66 million of its shares worth 1.01 trillion rials ($4.06m) were traded.
Kowsar Insurance Company, Iran Fara Bourse, Kerman Province Development Investment Company and Alborz Distribution Company had the most negative impact on IFX.
Saba Tamin Investment Company gave the biggest boost to IFX, followed by Minoo Industrial Group Company, Arfa Iron and Steel Company and Esfahan Steel Company.