EghtesadOnline: Tehran stocks showed signs of recovery in the middle of the last trading week after posting a string of losses over several weeks.
The benchmark of Tehran Stock Exchange, TEDPIX, closed trading week slightly in positive territory, gaining 4,456 points or 0.3% overall. This index lost 3% a week before.
Big gainers were mainly large caps, which enjoyed strong support from institutional traders. Except for a rally in the previous session on Wednesday, small caps stumbled throughout the week dragging down the TSE equal-weighted index by 0.6%. However, that was still an improvement over the 5% decline a week before.
Despite noticeable increase in the contribution of retail investors to the stock market trade last week, average daily retail trade declined 2% to reach 35.8 trillion rials per day.
Retail investors fled the market with 26 trillion rials ($96 million) last week, up over 19 trillion rials a week before.
Investor sentiment was buoyed in the middle of the week after the Economy Minister Ehsan Khandouzi met stock market officials, managers of investment banks and CEOs of the top 30 listed companies to find ways to lift the bearish share market.
Caption: The benchmark of Tehran Stock Exchange, TEDPIX, closed trading week slightly in positive territory.