Tehran Stocks Buck Declining Trend

EghtesadOnline: After nine consecutive sessions of bear market, the Tehran share market bucked the trend as indicators reached strong support levels.

News ID: ۷۵۱۳۸۷

01 November 2020

Led by blue chips, the main index of Tehran Stock Exchange, TEDPIX, gained 17,648 points to climb 1.37%, ending trade at 1,305,979 points.

The TSE-30 Index, the benchmark of 30 top listed companies in terms of market capitalization, closed 2.9% higher while small cap stocks gained less seen in the 0.36% growth in equal-weighted index.

The top gainers were metal, mineral and auto companies while some petrochemical giants and ceramic makers were among the losers.

While institutional traders and market makers tried to boost demand, the session also saw an active participation of retail traders.

About 7.26 billion shares valued at 68.52 trillion rials ($253 million) changed hands at TSE for the day. Market data show that retail investors contributed to 58 trillion rials of TSE trade for the day.

TSE Trade

SAIPA automaker was the biggest winner as its shares went up 8.44% to 2,440 rials per share.

Pars Electric Manufacturing Company incurred the biggest loss among all TSE-listed companies and went down 47.34% to 186,000 rials per share.

Persian Gulf Petrochemical Industries Company contributed the most to the benchmark's fall, followed by Pars Electric Manufacturing Company, Islamic Republic of Iran Shipping Lines Company and Shahed Investment Company.

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

IFX Up 0.88%

Iran Fara Bourse main index IFX gained 142.68 points or 0.88% to close Saturday trade at 16,267.41. About 1.64 billion securities valued at 27.25 trillion rials ($100.93m ) were traded at the junior exchange for the day.

Day Bank, Lavan Oil Refining Company, Damavand Power Generation Company and Kosar Insurance Company had the most negative impact on IFX.

Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Sepehr Saderat Financial Group Investment Company, Esfahan Steel Company and Hormozgan Steel Company.