Tehran Stocks Eke Out Gains

EghtesadOnline: Tehran stocks built on gains in the last trading session and opened Saturday trade 2.85% higher amid rising demand for most stock categories.

News ID: ۷۵۱۱۷۷

04 October 2020

The main index of Tehran Stock Exchange, TEDPIX, rose 42,719 points for the day to close at 1,546,146 points.

TSE 30 Index, which tracks the performance 30 giant companies with the highest market cap, showed a solid 3.95% growth and the equal-weighted index was up 0.8%.  The rally swept through a broad range of shares with blue chips on a higher pedestal.

The market saw capital inflow by retail traders after two weeks. Data show that the net value of retail buying reached 6.46 trillion rials ($22 million) on Saturday.

Retail investors comprised almost 87% of buyers as institutional traders preferred to err on the side of caution. The same investors were key market players in recent weeks.

Share prices of 245 listed companies in the TSE and junior equity market Iran Fara Bourse rose for the day, representing 51% of total, according to eghtesadnews.

TSE Trade

About 7.01 billion shares valued at 70.03 trillion rials ($245.72m) changed hands at TSE for the day.

Shahed Investment Company contributed the most to the benchmark's fall, followed by Saipa Investment Group Company, Rena Industrial Group Investment Company and Zar Macaron Industrial Group Company.

Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by National Iranian Copper Industries Company, Persian Gulf Petrochemical Industries Company and Golgohar Mining and Industrial Company.

IFX Up 1.58%

Iran Fara Bourse main index, IFX, gained 278.53 points, or 1.58%, to close Saturday trade at 17,954.4.

About 1.92 billion shares valued at 38.4 trillion rials ($134.74m) were traded at the over-the-counter exchange. Saba Tamin Investment Company, Peyvand Gostar Pars Energy and Electric Company, Kerman Development Investment Company and MAPNA Asaluyeh Power Generation Company had the most negative impact on IFX.

Middle East Mines and Mineral Industries Development Holding Company gave the biggest boost to IFX, followed by Pasargad Insurance Company, Sepehr Saderat Financial Group Investment Company and Shahid Tondgooyan Petrochemical Company.