Tehran Stocks Resume Rally
EghtesadOnline: Tehran stocks resumed the rally on Monday after a brief hiatus a session before amid higher contribution of retail investors.
The benchmark of Tehran Stock Exchange, TEDPIX, clawed above the psychological 1.4 million level after almost a month.
The market cap-weighted TEDPIX gained 16,326.90 points or 1.18% to end trade at 1,400,314.63.
In a noticeable change small caps outperformed and pushed up the TSE’s equal-weighted index by more than 1.4%.
Retail trade rose 7% to reach 42.16 trillion rials ($140 million), accounting for half the total. On Monday, prices of 407 tickers rose representing 80% of the total.
An estimated 6.85 billion shares worth 41.87 trillion rials ($139.54m) changed hands at TSE for the day.
Sina Chemical Industries Company was the biggest winner as its shares went up 6.5% to 3,408 rials per share.
Noosh Mazandaran Company incurred the biggest loss among all TSE-listed companies and went down 4.21% to 14,790 rials per share.
Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Fanavaran Petrochemical Company, Sepid Farab Kavir Steel manufacturing Company and Middle East Bank.
National Iranian Copper Industries Company gave the biggest boost to the benchmark followed by Mobarakeh Steel Company, Chadormalu Mining And Industrial Company and Iran Khodro Company.
IFB Up 0.3%
Iran Fara Bourse main index IFX gained 62.33 points or 0.33% to close Monday trade at 18,719.87. About 3.32 billion shares and securities valued at 1,322.38 trillion rials ($4.72 billion) were traded at the junior exchange for the day.
Pasargad Insurance Company, Minoo Industrial Group Company, Zagros Petrochemical Company and Damavand Power Generation Company had the most negative impact on IFX.
Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Hormozgan Steel Company, Saba Tamin Investment Company and Gohar Zamin Iron Ore Company.