Tehran Stocks Resume Rally

EghtesadOnline: After a one-day hiatus, stocks resumed their rally on Monday with the benchmark of Tehran Stock Exchange TEDPIX climbing more than 2% to 324,705.

News ID: ۷۴۸۵۸۸

01 October 2019

TSE underwent a brief correction phase a day earlier following six consecutive rallies.

The market was boosted mainly by rising demand for stocks in bank, auto and pharmaceuticals groups, according to Donyaye Bourse website.

Among the well-performing bank shares, the stocks of Tejarat Bank, Bank Saderat Iran and Parsian Bank were in the lead, Financial Tribune reported.

Auto and pharmaceuticals groups also registered a growth of 4.3% and 3.3% for the day.

The half-yearly financial report of listed companies is seen as the main driving force behind the bullish trend.

Companies have begun publishing their report on codal website since Sep. 23.  Codal is an information website created for instant official publication of corporate data.

Market Performance

The TSE's main index TEDPIX gained 6,455.28 points or 2.03% on Monday to end trading at 324,705.9.

About 6.08 billion shares valued at 25.56 trillion rials ($222.3 million) changed hands at TSE for the day.

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

SINA Tile Company was the biggest winner as its shares went up 8.65% to 13,623 rials per share.

Gorji Biscuits Company incurred the biggest loss among all TSE-listed companies and went down 5% to 30,313 rials per share.

Pardis Petrochemical Company contributed the most to the benchmark's fall, followed by Sepahan Oil Company, Kermanshah Petrochemical Industries Company, Shazand Petrochemical Company and Tidewater Middle East Company.

Mobile Telecommunication Company of Iran gave the biggest boost to the benchmark index, followed by Parsian Oil & Gas Development Company, Telecommunication Company of Iran and MAPNA Group.

IFX Up 1.5%

Iran Fara Bourse main index IFX gained 63.38 points or 1.5% to close Monday trade at 4,299.88.

About 1.91 billion securities valued at 12.91 trillion rials ($112.3 million) were traded at the over-the-counter exchange for the day.

Esfahan Steel Company had the highest number of traded shares as 244.20 million of its shares worth 574.27 billion rials ($4.9 million) were traded.

Marun Petrochemical Complex, MAPNA Assaluyeh Power Generation Company and Kowsar Insurance Company had the most negative impact on IFX.

Hormozgan Steel Company gave the biggest boost to IFX, followed by Goharzamin Iron Ore Company, Jahrom Power Plant Development Company and Lavan Oil Refining Company.