Large Caps Lead TSE Rally
EghtesadOnline: Tehran’s stock market opened trading week Saturday on a relatively stronger note, extending a winning streak into the fourth session.
The main gauge of Tehran Stock Exchange, TEDPIX, gained 26,503.70 points or 1.95% to end trade at 1,385,528.
As in the past sessions, the rally was led by blue chips and large caps with small caps struggling as laggards.
Price rise in shares of giant petrochemical, metal, steel and mineral companies pushed up the TSE-30 Index by more than 2.8%. The index tracks the performance of top 30 companies in terms of market cap. This is while the TSE’s equal-weighted index gained 1.16%.
Retail trade jumped 24% on the previous session to reach 48.68 trillion rials ($162 million), the highest in one month.
Selloff pressure picked up in the final hours of the session as nervous investors rushed to sell and save gains. The net capital outflow by retail investors was reported at 2.65 trillion rials ($8.8m).
About 7.07 billion shares valued at 45.67 trillion rials ($163.11m) changed hands at TSE on Saturday.
Behshahr Industrial Development Company was the biggest winner as its shares went up 7.74% to 3,868 rials per share.
Piazar Agro Industrial Company incurred the biggest loss among all TSE-listed companies and went down 4.55% to 34,400 rials per share.
Iran Mercantile Exchange contributed the most to the benchmark's fall, followed by Kourosh Food Industry, Baham Group Company and Karafarin Bank.
Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index followed by National Iranian Copper Industries Company, Mobarakeh Steel Company and Social Security Investment Company.
IFB Up 0.17%
Iran Fara Bourse main index, IFX, gained 31.47 points or 0.17% to close Saturday trade at 18,816.
About 2.26 billion shares and securities valued at 98.66 trillion rials ($352.4m) were traded at the junior exchange for the day.
Pasargad Insurance Company, Minoo Industrial Group Company, Iran Fara Bourse and Rail Pardaz Noafarin Company had the most negative impact on IFX.
Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Gohar Zamin Iron Ore Company, Zagros Petrochemical Company and Lavan Oil Refining Company.