Tehran Stocks Start Week on Strong Note

EghtesadOnline: The Tehran Stock Exchange opened the week on a strong note as the key index gained more than 1,000 points, mainly lifted by small and medium-size stocks.

News ID: ۷۴۷۰۵۲

14 April 2019

Tehran Stock Exchange’s main index TEDPIX gained 1,224.44 points or 0.63% on Saturday to end trading at 195,205.7. TEDPIX even briefly broke its earlier record of 195,480 for the first time since October 1.

TSE's rally comes as stocks are rallying around the world on two headlines that support the bull thesis: strong China economic data and J.P. Morgan CEO Jamie Dimon's supportive comments on the US economy.

US stock futures and European equities gained strongly on Friday, and bond yields rose as China released data after the close of markets there indicating that its bank lending numbers surged back and exports rebounded in March, according to Financial Tribune.

More than 3.38 billion shares valued at 10.77 trillion rials ($78 million) changed hands at TSE for the day.

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

Zahravi Pharmaceutical Company was the biggest winner as its shares went up 78.06% to 3,173 rials per share.

Zahravi Pharmaceutical Co. manufactures softgel capsules and immunosuppressive drugs in Iran. It offers products in the form of tablets, capsules, ampoules and oral drops and solutions in various dosage forms. The company also exports.

Offset Press Inc. incurred the biggest loss among all TSE-listed companies and went down 4.54% to 5,575 rials per share.

Chadormalou Mineral and Industrial Company Iran and Parsian Gas and Oil Company gave the biggest boost to the benchmark index, followed by Mapna Group and Zahravi Pharmaceutical Company.

MAPNA is a leading player in the power plant industry, with high capabilities in technology transfer, manufacture of main equipment for thermal power plants, project management and execution, and investment.

National Iranian Copper Industries Company contributed the most to the benchmark's fall, followed by Pars Petrochemical Company and Bank Mellat.

The Price Index gained .53.09 points to close at 56,290.1. First Market Index was up 857.73 points to post 145, 424.7.

The Second Market Index increased by 2,650.08 points to reach 381,049.1. Industry Index went up by 1,233.85 points to register 175,977.9.

Free Float Index was up 1,195.30 points to register 220,435.44. TSE 30 went up 15.01 points to settle at 9,623.3 and the TSE 50 ended 33.86 points lower to finish at 8,256.5.

IFX Up 0.12%

Iran Fara Bourse main index IFX gained 2.86 points or 0.12% to close Saturday trade at 2,473.12.

About 1.19 billion securities valued at $41.78 million were traded at the junior exchange for the day.