Tehran Stocks Rebound

EghtesadOnline: Following a brief correction phase on Saturday, Tehran Stock Exchange clawed back into positive territory on Sunday as the massive selloff pressure abated and investors’ sentiment was boosted by positive financial reports of listed companies.

News ID: ۷۴۷۷۹۸

08 July 2019

With the release of performance reports for some refinery companies, demand for stocks of this group increased on Sunday.

According to Donyaye Bourse website, the release of performance report of Tehran Oil Refinery Company for the past fiscal year (March 2018-19) was the main driving force behind the rally.

On Sunday’s close, the main index of TSE’s benchmark index TEDPIX gained 1,001.84 points or 0.41% to end trading at 246,447.4, according to Financial Tribune.

More than 2.5 billion shares valued at 12.27 trillion rials ($94.80 million) changed hands for the day.

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

Dana Insurance was the biggest winner, as its shares went up 9.62% to 11,240 rials per share.

Esfahan Saman Gostar Company, a construction company, incurred the biggest loss among TSE-listed companies and went down 4.99% to 5,373 rials per share.

Esfahan Oil Refining Company gave the biggest boost to the benchmark index, followed by Bandar Abbas Oil Refining Company, Tehran Oil Refining Company, Parsian Oil and Gas Development Group and Pars Petrochemical Company.

Kharg Petrochemical Company contributed the biggest fall followed by SAIPA Group, Chadormalu Mining and Industrial Company and Mobile Telecommunications Company of Iran.

Price Index gained 281.34 points to close at 69,193.8.

First Market Index was up 835.59 points to post 182,368.6.

Second Market Index increased by 1,548.67 points to reach 486.708.7.

The Industry Index went up by 895.55 points to register 220,218.6.

Free Float Index was up 1,152.32 points to register 276,695.50.

TSE 30 went down 37.02 points to settle at 11,118.8 and TSE 50 gained 28.69 points lower to finish at 9,970.8.

Iran Fara Bourse’s main index IFX rose 0.27% to close Sunday trade at 3,201.31 points.

Over 1.19 billion securities valued at 6.99 trillion rials ($54.04 million) were traded at the junior exchange for the day.