Tehran Stocks Riding High

EghtesadOnline: Tehran Stocks surged 28,543 points Sunday logging 3.7% growth to stand at 797,863 points, drawing nearer to the uncommon 800,000 points.

News ID: ۷۴۹۹۱۲

27 April 2020

According to financial tribune, the value of retail trade at TSE reached an all-time high of 115 trillion rials ($718 million) for the day as a minority of investors increased offers to save gains while a bigger majority increased buys, according to Donyaye Bourse website.

Taking into account the value of retail trade in the junior market Iran Fara Bourse, the overall figure stood around 170 trillion rials ($1billion), an indication of huge injection of liquidity by the army of new investors into the fast-pacing market.

Government’s plan to offer its remaining shares in selected listed companies is seen as a main trigger of consecutive rallies in recent weeks.

The government announced it would divest its remaining shares in 18 companies, including large-cap bank, auto, insurance and refining companies.

About 9.54 billion shares valued at 121.44 trillion rials ($773.54 million) changed hands at TSE Sunday.

Iran Khodro Investment Development Company was the biggest winner as its shares went up 108.64% to 2,729 rials per share.

AzarAb Industries Company incurred the biggest loss among all TSE-listed companies and went down 4.6% to 36,283 rials per share.

Tehran Stock Exchange contributed the most to the benchmark's fall, followed by Iran Zinc Mines Development Company, North Drilling Company and AzarAb Industries Company.

Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by the Persian Gulf Petrochemical Industries Company, Iran Khodro Investment Development Company and National Iranian Copper Industries Company.

Iran Fara Bourse main index, IFX, gained 255.55 points, or 2.73%, to close Sunday trade at 9,606.56.

About 4.63 billion securities valued at 65.42 trillion rials ($416.7 million) were traded at the over-the-counter exchange for the day.