Tehran Stocks Extend Rally

EghtesadOnline: Tehran Stock Exchange marked its sixteenth rally in a row Monday after its benchmark climbed 1% as investors keep both eyes on positive signals from currency market.

News ID: ۷۴۹۱۵۴

10 December 2019

TSE’s main index TEDPIX gained 3,224.73 points for the day, or 0.97%, to elevate its previous day’s record to 335,791.9.

Gains in equal weighted index, which gives the same weight to each stock,  were higher at 1.3%, signifying higher buying for the equities of the small companies.

Monday’s trade featured rising demand for shares of auto companies and partial sell-off in bank and commodity stocks, Financial Tribune reported.

About 4.50 billion shares valued at 22.99 trillion rials ($169.73 million) changed hands for the day.

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

Khavar Spring Manufacturer Company was the biggest winner as its shares went up 9.98% to 20,065 rials per share.

Saipa Glass Company incurred the biggest loss among all TSE-listed companies and went down 5% to 10,071 rials per share.

MAPNA Group contributed the most to the benchmark's fall, followed by National Iranian Copper Industry Company, Khorasan Steel Company and Khouzestan Steel Company.

Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index, followed by Tehran Oil Refining Company, Bandar Abbas Oil Refining Company and Parsian Oil and Gas Development Company.

IFX Up 1.6%

Iran Fara Bourse main index IFX gained 68.73 points or 1.6% to close Monday trade at 4,351.07.

About 1.66 billion securities valued at 14.84 trillion rials ($109.51 million) were traded at the over-the-counter exchange for the day.

Pars Paper Industrial Group Company, MAPNA Asaluyeh Power Generation Company, Sarcheshmeh Copper Investment Company and Golestan Pegah Dairy Company had the most negative impact on IFX.

Marun Petrochemical Company gave the biggest boost to IFX, followed by Kowsar Insurance Company, Lavan Oil Refining Company and Middle East Mines & Mineral Industries Development Holding Company.