Tehran Stocks Nudge Higher

EghtesadOnline: Tehran Stock Exchange began the trading week in positive territory boosted mainly by monthly reports of listed companies.

News ID: ۷۴۷۱۶۶

28 April 2019

The main benchmark gained over 1,500 points amid positive reports about the performance of most companies.

According to Donya-e Bourse website, apart from performance reports, the market was spurred by price rises for stocks after some companies announced last week that they were raising the price of their products.

Mineral, banking and chemical companies’ shares were the biggest winners during Saturday’s session, according to Financial Tribune.

TSE’s main index, TEDPIX, gained 1,510.80 points or 0.74% on Saturday to end trading at 250,287.63.

More than 4.6 billion shares valued at 10.03 trillion rials ($71.7million) changed hands for the day.

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

Barkat Pharmaceutical Group was the biggest winner as its shares went up 23.47% to 1,794 rials per share.

Navard and Steel Production Company incurred the biggest loss among all TSE-listed companies to climb down 4.97% to 10,062 rials per share.

Chadormalu Mining and Industrial Company gave the biggest boost to the benchmark index, followed by MAPNA Group, Golgohar Mining and Industrial Complex, and Bandar Abbas Oil Refining Co.

CMIC is the main iron ore concentrate producer by direct reduction in the Middle East with 7 million ton/year and produces a million tons a year of crushed iron ore for blast furnaces

MAPNA is a well-known group of Iranian companies involved in development and execution of thermal and renewable power plants, oil & gas, railway transportation, conventional boilers, electric and control systems, gas compressor, locomotive and other pertinent equipment.

Persian Gulf Petrochemical Industries Company contributed the most benchmark's fall followed by Ghadir Investment Company and Khuzestan Steel Company.

The Price Index gained 435.44 points to close at 59,162.9. First Market Index was up 1,342.28 points to post 154,249.3.

Second Market Index increased by 1,630.32 points to reach 394,571.3. The Industry Index went up by 1,456.06 points to register 184,638.1.

Free Float Index was up 1,578.78 points to register 231,889.10.  The TSE 30 went up 22.73 points to settle at 9,998.3 and the TSE 50 gained 41.11 points lower to finish at 8,637.2.

Iran Fara Bourse’s main index IFX rose 1.05% to close Saturday trade at 2,519.62 points.

Over 1.75 billion securities valued at 6.73 trillion rials ($48.09 million) were traded at the junior exchange for the day.