EghtesadOnline: Building on recent gains, Tehran stocks jumped on Monday to post the highest level in 71 sessions boosted largely by blue chips.
The benchmark of Tehran Stock Exchange, TEDPIX, gained 19,077 points or 1.48% to cross the critical 1.3 million points. It closed at 1,304,333 -- the highest since March 30.
The rally was driven mainly by price rise in large caps as indicated by the 2.3% growth in TSE-30 Index, which tracks the performance of top 30 TSE-listed companies in terms of market cap.
While the equal-weighted index had outpaced TEDPIX in the past few sessions, it lagged behind on Monday to add 0.77%, indicating that the small sized listed companies underperformed.
About 7.59 billion shares valued at 58.79 trillion rials ($235.16 million) changed hands at TSE for the day. Iran Mercantile Exchange was the biggest winner as its shares went up 15.16% to 18,080 rials per share.
Kermanshah Province Saham Edalat Investment Company incurred the biggest loss among all TSE-listed companies and went down 10% to 1,134 rials per share.
Kermanshah Province Saham Edalat Investment Company contributed the most to the benchmark's fall, followed by Barakat Pharmaceuticals Group Company, Tehran Stock Exchange and Khorasan Razavi Province Saham Edalat Investment Company.
Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Golgohar Mining and Industrial Company, Parsian Oil and Gas Development Group Company and Persian Gulf Petrochemical Industries Company.
IFB Up 1.4%
Iran Fara Bourse main index, IFX, gained 262.35 points or 1.41% to close Monday trade at 18,881.46. About 2.49 billion shares and securities valued at 277.03 trillion rials ($1.1 billion) were traded at the junior exchange for the day.
Kerman Province Development Investment Company had the highest number of traded shares as 431.97 million of its shares worth 599.2 billion rials ($2.4m) were traded.
Saba Tamin Investment Company, Damavand Power Generation Company, Omid Taban Hoor Energy Management Company and Zagros Kowsar Power Generation Company had the most negative impact on IFX.
Marun Petrochemical Company gave the biggest boost to IFX, followed by Gohar Zamin Iron Ore Company, Zagros Petrochemical Company and Melal Credit Institution.