Tehran Share Market Strengthens

EghtesadOnline: After getting near the milestone 2 million points for almost two weeks, the benchmark of Tehran Stock Exchange, TEDPIX, moved past the psychological level on Sunday.

News ID: ۷۵۰۶۰۱

03 August 2020

TSE’s market-cap weighted TEDPIX, gained 2.54% on Sunday by adding 49,870 points to close at record high of 2,011,492.

Iran’s share market has been mostly in upbeat mode in the past four months driven by a combination of factors, the most important being the full support of the government in tandem with systematic efforts to encourage more investors to join the fast-pacing market.

TEDPIX has gained close to 290% since the beginning of the current fiscal year on March 20, rising from about 500,000 points.

Trading value reached 275.9 trillion rials (1.1 billion) on Sunday, 29.6% higher than the previous session. Total money inflow amounted to 39.4 trillion rials for the day.

Bandar Abbas Oil Refining Company contributed the most to the benchmark's fall on Sunday, followed by Parsian Bank, Khouzestan Steel Company and Iran Khodro Company.

Social Security Investment Company gave the biggest boost to the benchmark index, followed by Persian Gulf Petrochemical Industries Company, Mobarakeh Steel Company and Esfahan Oil Refining Company.

IFX Up 2.64%

Iran Fara Bourse main index, IFX, gained 535.65 points, or 2.64%, to close Sunday trade at 20,818.53.

About 2.67 billion securities valued at 59.44 trillion rials ($270.19 million) were traded at the junior equity market.

Marun Petrochemical Company, Esfahan Steel Company, Iran Fara Bourse and Behpak Industrial Company had the most negative impact on IFX.

Gohar Zamin Iron Ore Company gave the biggest boost to IFX, followed by Middle East Mines and Mineral Industries Development Holding Company, Shahid Tondgooyan Petrochemical Company and Saba Tamin Investment Company.