EghtesadOnline: Tehran stocks opened Saturday on a strong note as demand outweighed supply for the second consecutive session in a row pushing up all market indicators.
The benchmark of Tehran Stock Exchange, TEDPIX, eked out the biggest daily gain in two months. It added 29,594.58 points and climbed 2.41% to end trade at 1,258,962.95.
Giant companies were the main gainers as seen in the 3.3% rise in the TSE-30 Index, which tracks the performance of top 30 listed companies in terms of market cap.
The TSE’s equal-weighted index was up 2%, reflecting the performance of small caps.
Prices in 34 tickers dropped while 440 others ended in positive territory, representing 90% of the total.
Retail investors accounted for 51% of the trade worth 31.3 trillion rials ($111 million), down 6% compared with the session before.
After 25 straight sessions of net capital outflow by retail investors, the market saw fresh liquidity from retail investors worth 1.14 trillion rials ($4 million).
Investor sentiment buoyed after the government said that it had decided to bring forward the enforcement date of support measures for the bourse approved in late December.
As part of the 2022-23 budget, the measures were to be enforced in March marking the beginning of the Iranian year. The government officially announced the decision on Wednesday, saying they must be promptly put into force.
About 4.42 billion shares valued at 34.07 trillion rials ($121.7 million) changed hands at TSE for the day.
Abadgaran Iran Tourism and Welfare Complex incurred the biggest loss among all TSE-listed companies and went down 4.22% to 33,130 rials per share.
Glass and Gas Industries Group Company contributed the most to the benchmark's fall, followed by Barez Industrial Group Company, Abadgaran Iran Tourism and Welfare Complex and Pars Switch Company.
Mobarakeh Steel Company gave the biggest boost to the benchmark index followed by National Iranian Copper Industries Company, Persian Gulf Petrochemical Industries Company and Pars Petrochemical Company.
IFB Up 1.9%
The main index of Iran Fara Bourse, IFX, gained 320.55 points or 1.88% to close Saturday trade at 17,354. About 5.41 billion shares and securities valued at 38.41 trillion rials ($137m) were traded at the junior exchange for the day.
Kowsar Insurance Company, Atieh Dadeh Pardaz Company, Tejaratno Insurance Company and Taavon Insurance Company had the most negative impact on IFX.
Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Zagros Petrochemical Company, Saba Tamin Investment Company and Pasargad Insurance Company.