Tehran Stocks Rally Ahead of Half Yearly Reports

EghtesadOnline: The main gauge of Tehran Stock Exchange nudged 1.4% higher on Sunday amid investors’ optimism on the eve of half yearly reports of companies.

News ID: ۷۴۸۵۱۳

23 September 2019

The benchmark clawed back above historic point of 300,000 for the day, with the TEDPIX gaining more than 4,390 to stand at 302,103.

After a two-day hiatus in last trading week, the stock market has staged a new round of bull market since Saturday as investors expect improved performance for a wide range of listed companies, according to the Donyaye Bourse website.

The market featured rising demand for commodity stocks of petrochemical, refinery and metal companies, leading to stocks in this group to be traded at maximum prices, according to Financial Tribune.

To help boost transparency in the stock market, listed companies must regularly report on their financial performance on Codal website.

Market Performance

The TSE's main index TEDPIX gained 4,390.93 points or 1.47% on Sunday to end trading at 302,103.5.

About 5.28 billion shares valued at 22.83 trillion rials ($200.25 million) changed hands at TSE for the day.

Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.

Vehicle Axle Manufacturing Company was the biggest winner as its shares went up 7.19% to 11,596 rials per share.

Iran Khodro Axle Manufacturing Company incurred the biggest loss among all TSE-listed companies and went down 4.99% to 5,218 rials per share.

Khorasan Steel Company contributed the most to the benchmark's fall, followed by Telecom Company of Iran, Tejarat Bank and Esfahan Oil Refining Company.

National Iranian Copper Industry Company gave the biggest boost to the benchmark index, followed by Mobarakeh Steel Company, and Jam Petrochemical Company.

The Price Index gained 1,180.18 points, or 1.47% to close at 81,196.9.

The First Market Index increased by 2,825.05 points, or 1.30% to post 219,857.1. Second Market Index increased by 10,573.66 points, or 1.76% to reach 613,020.7.

The Industry Index increased by 4,077.10 points or 1.53% to register 270,769.1. The Free Float Index was up 5,926.54 points to hit 348,600.12.

TSE 30 increased by 159.47 points to settle at 12,878.1 and the TSE 50 ended 138.14 points higher to finish at 11,715.0.

IFX Up 1.62%

Iran Fara Bourse main index IFX gained 64.17 points or 1.62% to close Sunday trade at 4,017.04.

About 1.25 billion securities valued at 8.61 trillion rials ($75.52 million) were traded at the over-the-counter exchange for the day.

Esfahan Steel Company had the highest number of traded shares as 150.37 million of its shares worth 297.90 billion rials ($2.61 million) were traded.

Damavand Power Generation Company, Baghmisheh Urbanism Company, and Ghiam Esfahan Agriculture and Livestock Company had the most negative impact on IFX.

Zagros Petrochemical Company gave the biggest boost to IFX, followed by Goharzamin Iron Ore Company, and Marun Petrochemical Complex.