Tehran Stock Exchange Extends Winning Streak

EghtesadOnline: Tehran Stock Exchange trading began on Saturday in positive territory amid investors’ enthusiasm about half-yearly reports of listed companies, extending a bullish trend into the sixth day.

News ID: ۷۴۸۵۶۱

29 September 2019

The main gauge of TSE gained more than 5,600 on Saturday, sending TEDPIX 1.7% higher, as the inflow of fresh liquidity continues to cheer the stock market.

The non-stop market rally has been partly ascribed to the half-yearly financial reports published on the Codal website since the Sept. 23, marking the end of the first half of the Iranian year.

Codal is an information website created for the instant official publication of corporate data, according to Financial Tribune.

The value of trade crossed 18 trillion rials ($157 million) as of 12:15 p.m., local time, according to the Donyaye Bourse website.

The market featured rising demand for a wide range of small stocks, particularly in agriculture, tire manufacturing, metals, automotive, food, housing construction and pharmaceuticals.

Market Performance

TEDPIX gained 5,614.70 points, or 1.79%, on Saturday to end trading at 320,023.9.

About 4.71 billion shares valued at 22.23 trillion rials ($194.18 million) changed hands at TSE for the day.

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

Chodan Sazan Company (a steel manufacturing company) was the biggest winner, as its shares went up 10.08% to 15,809 rials per share.

Niroumoharekeh Machine Tools Company incurred the biggest loss among all TSE-listed companies and went down 5% to 6,294 rials per share.

Bandar Abbas Oil Refining Company contributed the most to the benchmark's fall, followed by Esfahan Oil Refining Company, Shiraz Petrochemical Company and Kharg Petrochemical Complex.

Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Telecommunications Company of Iran, and Mines and Metals Development Investment Company.

IFX Up 1.92%

Iran Fara Bourse’s main index IFX gained 79.96 points or 1.92% to close Saturday trade at 4,247.98.

About 1.46 billion securities valued at 10.12 trillion rials ($88.40 million) were traded at the over-the-counter exchange for the day.

Esfahan Steel Company had the highest number of traded shares, as 133.046 million of its shares worth 301.61 billion rials ($2.63 million) were traded.

Zagros Petrochemical Company, Kerman Development Investment Company and Esfahan’s Parsian Kowsar Hotel had the most negative impact on IFX.

Marun Petrochemical Complex gave the biggest boost to IFX, followed by Esfahan Steel Company and Hormozgan Steel Company.