Tehran Stocks Keep Climbing

EghtesadOnline: The main gauge of Tehran Stock Exchange hit a record high of 392,000 points on Monday after gaining more than 16,000 points, or 4.3%, for the day.

News ID: ۷۸۵۲۵۵

14 January 2020

Monday marked the third day in a row of rallies since Saturday as investors strive to pare last week’s losses largely due to the heighted political and military tensions in the strategic region.

Over the past three sessions, the TSE benchmark, TEDPIX, soared more than 35,000 points, higher than a total loss of 30,000 points during the four trading sessions last week, according to Financial Tribune.

Equal-weighted index, which gives the same weight to all stocks regardless of their value of size, was lower than TEDPIX at 3.8%, indicating that the shares of large-cap companies had the upper hand for the day.

Two giant listed companies, Mobarakeh Steel Company and Persian Gulf Petrochemical Industries Company, alone contributed 3,500 points to the benchmark.

The market has also been dominated by natural entity investors over the past three days, unlike last week when they leaned towards the seller’s side anxious about risks and uncertainty.

Micro investors bought more than 23 trillion rials ($176 million) worth of shares offered by legal entity investors since the start of trading week.

Market Performance

The TSE's main index TEDPIX gained 16,388.36 points or 4.36% on Monday to end trading at 392,038.4.

About 8.25 billion shares valued at 39.34 trillion rials ($302.6 million) changed hands at TSE for the day.

Trading at TSE and over-the-counter Iran Fara Bourse starts on Saturday and ends Wednesday.

Machine Sazi Arak Company (manufacturer of spherical storage tanks, refinery and petrochemical equipment) was the biggest winner as its shares went up 25.68% to 4,356 rials per share.

Fars Cement Company incurred the biggest loss among all TSE-listed companies and went down 2.26% to 112,394 rials per share.

Fars Cement Company contributed the most to the benchmark's fall, followed by Iran Construction Investment Company, Iran Ferrosilice Company and Offset Press Incorporation.

Mobarakeh Steel Company gave the biggest boost to the benchmark index, followed by Persian Gulf Petrochemical Industries Company, Bandar Abbas Oil Refining Company and Tamin Petroleum and Petrochemical Investment Company.

IFX Up 3%

Iran Fara Bourse main index IFX gained 151.43 points, or 3.09%, to close Monday trade at 5,045.68.

About 1.95 billion securities valued at 12.95 trillion rials ($99.63 million) were traded at the over-the-counter exchange for the day.

Damavand Power Generation Company, Hormozgan Steel Company, Sarcheshmeh Copper Investment Company and Tuka Paint Foolad Sepahan Company had the most negative impact on IFX.

Goharzamin Iron Ore Company gave the biggest boost to IFX, followed by Zagros Petrochemical Company, Marun Petrochemical Company and Esfahan Steel Company.