EghtesadOnline: Tehran stocks opened trading week on Saturday slightly higher amid a shift of investor attention from penny stocks to large caps.
The benchmark of Tehran Stock Exchange, TEDPIX, gained 4,452.89 points or 0.29% to finish trading at 1,530,461. Large caps performed better pushing up the TSE-30 Index by 0.6%. The index tracks the performance of top 30 companies in terms of market cap.
This is while the TSE’s equal-weighted index shed 2,750 points or 0.6% amid mounting sell-side pressure in majority of small cap shares.
About 10.3 billion shares valued at 78 trillion rials ($288.8 million) changed hands at TSE for the day.Vehicle Axle Manufacturing Company was the biggest winner as its shares went up 4.98% to 3,960 rials per share.
Kaveh Paper Industries Company incurred the biggest loss among all TSE-listed companies and went down 4.87% to 15,820 rials per share.
Telecommunication Company of Iran contributed the most to the benchmark's fall, followed by Khouzestan Steel Company, Barakat Pharmaceuticals Group Company and Informatics Services Corporation.
National Iranian Copper Industries Company gave the biggest boost to the benchmark index followed by MAPNA Group Company, Pardis Petrochemical Company and Parsian Oil and Gas Development Group Company.
IFX Up 0.2%
Iran Fara Bourse main index, IFX, gained 42.66 points or 0.19% to close Saturday trade at 22,811.14.
About 9.39 billion securities valued at 217.97 trillion rials ($807.3m) were traded at the junior exchange for the day.
Sirjan Jahan Steel Complex had the highest number of traded shares as 4 billion of its shares worth 22 trillion rials ($81.5m) were traded.
Esfahan Steel Company, Arfa Iron and Steel Company, Day Bank and Iran Office Machines Industries Company had the most negative impact on IFX.
Zagros Petrochemical Company gave the biggest boost to IFX, followed by Iran Fara Bourse, Pasargad Insurance Company and Hormozgan Steel Company.