Share Market Trims Losses
EghtesadOnline: Tehran stocks opened on a strong note on Monday, partly recovering heavy losses in the past two sessions buoyed by hopes that imminent government measures may lift share prices.
The benchmark of Tehran Stock Exchange, TEDPIX, gained 21,112.26 points and climbed 1.58% to close at 1,361,402.
As expected, demand for large caps and blue chips outweighed small caps, pushing up the TSE-30 Index, which tracks biggest 30 companies, by 2.6% while the TSE’s equal-weighted index gained 0.87%.
Prices in 300 tickers increased and 177 tickers closed in the red on Monday, representing 36% of the total.
The rally was driven mainly by institutional investors. Data showed nervous retail investors continue to flee the market. The net capital outflow stood at 2.32 trillion rials ($8.5 million) for the day.
About 4.53 billion shares valued at 35.82 trillion rials ($132m) changed hands at TSE for the day. Kalber Dairy Company was the biggest winner as its shares went up 4.99% to 9,880 rials per share.
Rouz Darou Pharmaceuticals Company incurred the biggest loss among all TSE-listed companies losing 4.99% to 35,070 rials per share.
Informatics Services Corporation contributed the most to the benchmark's fall, followed by Barakat Pharmaceuticals Group Company, Asan Pardakht Persian Company and Dashtestan Cement Industries Company.
Mobarakeh Steel Company gave the biggest boost to the benchmark index followed by National Iranian Copper Industries Company, Golgohar Mining and Industrial Company and Esfahan Oil Refining Company.
IFB Up 0.88%
Iran Fara Bourse main index, IFX, gained 169.91 points or 0.88% to close Monday trade at 19,400.91.
About 2.63 billion securities valued at 664.36 trillion rials ($2.46 billion) were traded at the junior exchange for the day.
Iran Cultural Heritage and Tourism Investment Group Company, Takhte Jamshid Petrochemical Company, Iranian Reinsurance Company and Marun Petrochemical Company had the most negative impact on IFX.
Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Esfahan Steel Company, Saba Tamin Investment Company and Shahid Tondgooyan Petrochemical Company.