Tehran Stocks Tick Up

EghtesadOnline: Tehran stocks swung choppily at the close of trading session on Wednesday as trade began in negative territory but later gained ground.

News ID: ۷۵۱۱۵۳

01 October 2020

The main index of Tehran Stock Exchange, TEDPIX, closed the session in green adding 10,484 points to climb 0.7%. With the gains it clawed back above the critical 1.5 million points and ended trade at 1,503,426 points.

TEDPIX lost 6.7% during the trading week amid panicking investors wanting to sell shares.

Many small-cap shares, however, were still under sell-off pressure as indicated by 0.21% drop in equal-weighted index. The index gives the same weight to shares of all listed companies, irrespective of their market cap.

Boosted by support from market makers and institutional traders, blue chips were the top-performing for the day, causing the TSE 30 index to rise by 1.12%. The index tracks the performance of 30 giant listed companies with the highest market capitalization.

Support to boost the share market mainly targeted stocks in metal, minerals, refineries, banks and petrochemical companies.

Officials at the Securities and Exchange Organization approved measures in the past month to support the market that has lost more than 30% since early August.

Borrowing from the sovereign wealth fund, allowing banks to invest in shares and assigning market markers to boost the liquidity of shares are some of the efforts to prop up the market.

TSE Trade

About 11.185 billion shares valued at 97.9 trillion rials ($330 million) changed hands at TSE for the day.

Ardabil Province Investment Services Company was the biggest winner as its shares went up 29% followed by Pakshoo Industrial Group.and Barez Industrial Group.

Pars Khodro incurred the biggest loss among all TSE-listed companies and went down 5%.

Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Golgohar Mining and Industrial Company, Tamin petroleum and Petrochemical Investment Co and National Iranian Copper Industry Co.

Isfahan Oil Refinery Company contributed the most to the benchmark's fall, followed by Bandar Abbas Refinery Company, Iran Telecommunications Company and Iran Mobile Telecommunications Company.

IFB up 1.2%

Iran Fara Bourse main index, IFX, gained 222.36 points, or 1.2 7%, to close Saturday trade at 17,675.86.

About 3.839 billion securities valued at 55.11 trillion rials ($189 m) were traded at the over-the-counter exchange.

Saba Tamin Investment Company, Day Bank, Lavan Oil Refining Company and Madiran Group had the most negative impact on IFX.

Marun Petrochemical Company gave the biggest boost to IFX, followed by Arya Sasol Polymer Company, Zagros Petrochemical Company.