Large Caps Bolster TSE
EghtesadOnline: While many penny stocks lost value on Monday, equities of many big companies gained, amid the noticeable support of institutional investors.
Traded choppily during the session, the benchmark of Tehran Stock Exchange, TEDPIX, gained 1.9%, adding 22,212 points to close at 1,192,744.
Increased demand for blue chips in refinery, mineral, petrochemical, banks and metal companies pushed up the TSE-30 Index by 3.5%. The index tracks the performance of top 30 TSE-listed companies in terms of market cap, Eghtesad News website reported.
This is while a large number of small caps ended up in negative territory, dragging down the equal-weighted index by 0.2%.
Trade value increased by 164% to 334.6 trillion rials ($1.4 billion), the highest since Jan. 9.
About 13.32 billion shares valued at 126.97 trillion rials ($529.05 million) changed hands at TSE for the day.
Sadr Tamin Investment Company contributed the most to the benchmark's fall, followed by the Islamic Republic of Iran Shipping Lines Company, Sepid Farab Kavir Steel Manufacturing Company and Darou Pakhsh Pharmaceutical Company.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, National Iranian Copper Industries Company and Golgohar Mining and Industrial Company.