Tehran Stock Exchange Trade Gains 3.35%

EghtesadOnline: Tehran Stock Exchange’s main index gained 4,764.26 points or 3.35% on Monday to end trading at 146,998.7.

News ID: ۷۴۵۹۹۶

11 September 2018

The record jump was most likely caused by the relative price adjustment of corporate stocks, the termination of fluctuations in rival markets (such as gold and forex markets), stability of global prices and rumors of Iran Mercantile Exchange eliminating price ceiling for steel products.

At present, steel products are allowed 15% fluctuations on IME, but the induction of two new steel ingot providers into IME and the readjustment of price ceiling for other base metals led investors to believe that good news regarding steel will come soon, according to Donya-e-Bourse's analysis.

The jump, although led by large-scale industries of base metals, petrochemicals and oil products, was not limited to these industries as 37 out of the 38 industries listed at TSE had positive impacts on the index, with the exception of paper products, meaning new capital is being injected into the market and new players are appearing on the scene, Financial Tribune reported.

About 3.49 billion shares valued at $98 million changed hands at TSE on Monday.

Trading at TSE and Iran Fara Bourse starts on Saturday and ends on Wednesday.

Shahdiran Company was the biggest winner, as its shares went up 33.43% to 2,866 rials per share.

Iran Carton Company incurred the biggest loss among all TSE-listed companies and went down 4.35% to 6,404 rials per share.

Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Golgohar Mining and Industrial Complex and Iran National Copper Industry Company.

Islamic Republic of Iran Shipping Lines Company was the biggest laggard behind the benchmark's fall, followed by Informatics Services Company and Persian Gulf Transportation Company.

The Price Index gained 1,393.16 points to close at 42,984.6.

The First Market Index was up 3,974.25 points to post 108,877.3.

The Second Market Index added 7,261.90 points to reach 289,971.9.

The Industry Index increased by 4,447.28 points to register 134.343.3.

The Free Float Index was up 5,283.70 points to hit 157,236.31.

The TSE 30 went up 274.81 point to settle at 7,159.1 and the TSE 50 ended 215.45 points higher to finish at 6,340.3.

> IFX Up 2.65%

Iran Fara Bourse’s main index IFX gained 43.6 points or 2.65% to close Monday trade at 1,686.37.

About 214.29 million securities valued at $20.88 million were traded at the over-the-counter exchange for the day.

Esfahan Steel Company had the highest number of traded shares, as 76.91 million of its shares changed hands.

Shiraz Oil Refining Company registered the highest trade value, with the trading of shares worth $1.95 million.

Pakdis Company, Iran Cultural Heritage and Tourism Investment Group Company and Shiraz Oil Refining Company registered the highest value increase.

Shahr-e-Kord Zagros Meat & Dairy Company, Ghiam Company and MobinOne Kish Company suffered the biggest decline.

Marun Petrochemical Company, Esfahan Steel Company and Shiraz Oil Refining Company had the most positive impact on IFX.